The head of Morgan Stanley’s joint venture in China is stepping down, a person familiar with the matter said.

Bao Yi, chief executive of Morgan Stanley Huaxin Securities, is leaving the bank to start his own investment firm, the person said. Bao joined Morgan Stanley in 2006 and transferred to the joint venture in 2011.

Head of Morgan Stanley’s China JV is stepping down

Bao Yi leaving Morgan Stanley Huaxin Securities to start his own investment firm

Julie Steinberg, The Wall Street Journal

Morgan Stanley

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