PJ Naik named Morgan Stanley India Head

Global financial services major, Morgan Stanley has appointed former Axis Bank Chairman P J Naik as its new country head and Chief executive officer for India.

Global financial services major, Morgan Stanley has appointed former Axis Bank Chairman P J Naik as its new country head and Chief executive officer for India.

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The appointment is a part of Morgan Stanley's continuous expansion in India and further investment in its operations here, the company said in a press release.

Nayak will join Morgan Stanley on April 5 and will be based in Mumbai, it said.

Nayak, who was instrumental in growing the business and presence of Axis Bank from less than 50 branches to over 800, served as the Chairman and CEO of the bank from January 2000 til April 2009.

Presently, he is serving as an operating partner at Advent International Private Equity and non-executive Chairman of Motilal Oswal Asset Management Company.

In 2009, Nayak became a member of the Technical Advisory Committee for Monetary Policy of the Reserve Bank of India, the release said.

"We are delighted that Jayendra Nayak will be joining Morgan Stanley to lead our operations in India...the firm will also benefit from his senior relationships in India and his government experience," Morgan Stanley Asia, CEO, Owen Thomas, said.

Morgan Stanley operates from more than 1,200 offices in 37 countries.