OREANDA-NEWS. Morgan Stanley Bank intends to stop its activity in Russia in nine months. This is stated in the financial statements of the organization. A document published by Morgan Stanley Bank LLC states that in the first quarter of 2020, a financial institution intends to file an application for termination of activities with the Bank of Russia.

"The group plans to abandon banking, brokerage and depositary licenses and voluntarily liquidate the relevant business units," the statement said. The intention of Morgan Stanley to reduce its presence in Russia became known in December last year. Then the interlocutors of the Bloomberg agency in the bank reported that some of the staff in Morgan Stanley being reduced in Moscow would simply be fired, while others would be transferred to work in London. 

Morgan Stanley Bank opened a representative office in Russia in 1994, in 2005 Morgan Stanley Bank LLC received a license to carry out banking activities, as well as a license of a professional participant in the securities market for dealer, brokerage and depository activities. In 2008, Morgan Stanley Bank LLC received a perpetual brokerage license, as well as perpetual licenses for dealer and depositary activities. Currently, the main activities of the bank are conversion operations, operations in the money market, with securities and derivative financial instruments, providing investment and financial services to clients (mergers and acquisitions, initial public offerings, etc.). 

Earlier, in August 2018, it was reported that Morgan Stanley had refused to acquire the Nevsky Center shopping and entertainment complex in St. Petersburg. One of the interlocutors of “Vedomosti” said then that the decision of the foundation was explained by the US plans to introduce new sanctions against Russia. Another source of "Vedomosti" suggested that the position of Morgan Stanley was influenced by the general deterioration of relations between Moscow and Washington.