In a move that should inspire many over worked executives with families, Mario Francescotti has decided to relinquish his roles as CEO and President of Morgan Stanley Asia Pacific. The move comes as Francescotti decided that he wanted to spend more time with his family. He will stay with the firm as a managing director and focus on Morgan Stanley's China related activities.
Taking over the title of CEO will be Alasdair Morrison who at present is Chairman of Morgan Stanley Asia Pacific. Mike Berchtold, Asian head of investment banking at the bank will assume the title of President. It is unclear exactly what new workloads Morrison and Berchtold will undertake with their new titles....
