Morgan Stanley Real Estate Investing, the real estate investment management business of New York investment bank Morgan Stanley, is to part ways with two senior executives of its Asia team.
The leavers are Noah Wangh, an executive director who was responsible for investments in Hong Kong and Vietnam, and Denise Lau, a managing director responsible for working with Chinese institutional clients of the bank.
Neither is expected to be directly replaced, with Wangh’s Hong Kong coverage falling under the remit of MSREI’s head of China, Susan Sun.
MSREI would not comment on the departures however a source close to the matter told PERE that Wangh’s departure coincided with the firm’s relative inactivity in the Hong Kong market.
Wangh was made head of Hong Kong amid a wider strategy by MSREI to transfer leadership and day to day management responsibilities to individual countries, moving away from a more centralized model.
The strategy also saw Sun appointed as China head, as well as other heads appointed for Singapore and Japan.
Nevertheless, with MSREI not transacting in Hong Kong for more than five years, a decision was understood to have been made to part ways.
MSREI has been most focused in Asia of late on making investments in mainland China, India, Japan and Australia.
Lau is believed to have left the firm for personal reasons.
PERE’s source said: “These departures are really part of the usual cycle in our industry as people and businesses start a new year.”