Morgan Stanley Investment Management, the asset management arm of Morgan Stanley, has appointed Anthony Heredia chief executive officer of its India operations.
Heredia, a qualified chartered accountant, was previously the head of sales and distribution at HSBC Asset Management (India) before joining Morgan Stanley Investment Management in February last year as head of sales and marketing for India.
The India chief executive officer position was previously held by Narayan Ramachandran, who took that position in October 2007.
Morgan Stanley first announced its intentions to invest in Indian real estate in 2006, when it said it intended to spend more than $1 billion in Indian real estate and property companies over the next five years, investing from its international real estate vehicle.
Since then the investment bank has invested in a number of real estate companies and projects, including Bangalore-based Mantri Developers and Delhi-based Alpha G, and a serviced apartment project in Pune. In March this year, Morgan Stanley Investment Management appointed former managing director of Goldman Sachs’ real estate fund of funds, Joseph Stecher, as managing director and chief investment officer for the Morgan Stanley Alternative Investment Partners’ (Morgan Stanley AIP) new real estate fund of funds business.