Staff Writer
Following in the footsteps of competitors like Goldman Sachs Group Inc. and Lazard Ltd., Morgan Stanley plans to open an office in Munich to expand coverage of the vibrant industrial and innovation landscape in the city.
According to a memo reviewed by Bloomberg News, the US company plans to launch its Munich office by the middle of next year to service investment banking clients in the technology, private equity, and industrial sectors. It will be in the heart of the city and provide room for 16 workers.
Young start-ups and technological companies, as well as many of the German blue-chip DAX Index enterprises, are based in Munich.
It has also drawn a lot of wealthy people throughout the years, notably from Eastern Europe, due to the nearby lakes and proximity to the Alps.
Perella Weinberg has been in the Bavarian capital since 2020, while Goldman Sachs and Lazard have just opened offices there.
For its operations in Continental Europe, Morgan Stanley will continue to have its German headquarters in Frankfurt. There are now 500 employees there, up from 150 in 2018.
According to a new report co-authored by PwC, the Technical University of Munich produces the second-highest number of company founders in Germany. This gives local banks the opportunity to find and collaborate with businesses early on.
