Bao Yi, the chief executive of Morgan Stanley’s joint venture in China is leaving to start his own investment firm, according to the Wall Street Journal citing people familiar with the matter.
It is unclear what type of investment company Bao will establish.
Bao joined Morgan Stanley in 2006 and transferred to the joint venture, Morgan Stanley Huaxin Securities Company Ltd., in 2011.
The New York bank has a 33% stake in the Shanghai-based joint venture.
Morgan Stanley set up the Huaxin JV after it finally sold its 34.3% stake in China International Capital Corp., the securities joint venture Morgan Stanley founded with China Construction Bank back in 1995.