Another high-profile exit from a foreign mutual fund

Narayan Ramachandran of Morgan Stanley is the latest to leave a foreign mutual fund

Narayan Ramachandran, CEO and country head of Morgan Stanley has put in his papers and will be exiting the firm next month, reports PTI. A full time India CEO will be announced in the future, the company said.

This exit comes close on the heels of the exit by Krishnamurthy Vijayan from JP Morgan Asset Management as its executive chairman. Mr Vijayan will join IDBI Mutual Fund.

Mr Ramachandran joined Morgan Stanley in 1996 and held senior global positions within Morgan Stanley Investment Management, notably heading the firm's global emerging markets and asset-allocation businesses.

Mr Ramachandran has decided to resign from the full-time charge to pursue personal interests in entrepreneurship and public service, stated the release.
He began his banking career at Goldman Sachs Group in New York. 

Morgan Stanley's Asia chief operating officer, Scott Gaynor, will take on the additional responsibility as the company's acting country head for India.

Morgan Stanley has 1,200 offices in 37 countries worldwide.

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