Roach retires from Morgan Stanley

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Stephen Roach is retiring as non-executive chairman of Morgan Stanley’s Asia operations and moving into full-time academia after 30 years at the bank.

Mr Roach, 66, joined Morgan Stanley in 1982, becoming its chief economist nine years later and then executive chairman of Asia in 2007, based in Hong Kong.

He moved back to New York in 2010 to join the faculty at Yale University, simultaneously becoming non-executive chairman of the bank’s Asia operations.

Mr Roach specialised in Asia-related economic issues and is well known for predicting that China will eclipse the US as the world’s dominant economy by 2025. His expertise on Asia-related matters and his often provocative research are believed to have made him a popular figurehead for Morgan Stanley’s regional clients.

“Steve has been a tremendous asset to our franchise,” James Gorman, Morgan Stanley chief executive, wrote to staff on Thursday.

“During his career, he has been recognised as one of Wall Street’s most influential thought leaders.”

Mr Roach currently works at Yale’s Jackson Institute for Global Affairs and the university’s business school, teaching courses that include “The Next China” and “Washington and Wall Street: Markets, Policy and Politics”.

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