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	Your Opportunity as an Analyst in Merchant Banking

An overview of this program’s objectives and how you can benefit

Morgan Stanley Investment Management (MSIM) seeks to attract and retain the most talented and innovative individuals from across our industry.  We take pride in placing Analysts in key business areas and allowing them to become fully integrated into their groups. Our Analyst Program is unique: we make a commitment to retain top talent and promote their career development, enabling qualified individuals to grow within our organization. MSIM's workforce is diverse in experience and background, but uniform in reflecting our standards of integrity and excellence.

Investment Management is a key business for Morgan Stanley. The firm has made a strong commitment to attracting and retaining the best talent in the business. This makes it an especially exciting time to be a part of MSIM and to experience our entrepreneurial environment.

Merchant Banking

The Merchant Banking Division under MSIM leverages the Morgan Stanley network and brand to generate ideas, harness relationships, create investment opportunities, and deliver superior returns for our investors. Merchant Banking sponsors traditional private equity funds, infrastructure-focused funds, and one of the industry-leading real estate investing platforms globally.

There are the following three sub-groups in Merchant Banking

Infrastructure

As part of Morgan Stanley's Merchant Banking franchise, Morgan Stanley Infrastructure (MSI) targets investments in infrastructure on a global basis. Infrastructure is emerging as a distinct alternative asset class that serves as a complement to real estate and traditional private equity investments. Infrastructure assets are long-term investments associated with providing essential public goods and services to societies across the globe. MSI believes that underlying trends in infrastructure-related sectors, including fundamental global supply and demand dynamics, provide a significant opportunity for generating attractive risk-adjusted returns with low volatility and low correlation to other asset classes. Most of MSI's investments are large, direct equity stakes in  portfolio companies, with the Asset Manager and other senior MSI professionals working together with the management teams of these companies to support their business. 

Private Equity

Morgan Stanley Private Equity (MSPE) is the firm's primary business for investing in large and middle-market private equity transactions globally on behalf of its clients. MSPE's team of investment professionals brings significant expertise in structuring complex financial transactions and a dedication to partnering with entrepreneurial management teams.

Morgan Stanley has a long and successful history of private equity investing. Since 1985, the firm has invested over $6 billion in private equity transactions on a global basis.

With offices in New York, London, Hong Kong, Seoul, and Tokyo, MSPE seeks out the most attractive investment opportunities around the world and combines a global approach with in-depth local market and industry knowledge. Morgan Stanley's extensive business relationships and global network of resources afford both our private equity team and our portfolio companies unparalleled access to leading corporations and management teams.

Real Estate

Morgan Stanley Real Estate consists of three major global businesses: Investing, Banking and Lending. Since 1991, Morgan Stanley Real Estate has acquired $173.9 billion of real estate assets worldwide and currently manages $46.4 billion in real estate assets on behalf of its clients. A complete range of market-leading investment banking services for real estate clients include advice on strategy, mergers, acquisitions and restructurings, as well as underwriting public and private debt and equity financings. As a global leader in real estate lending, Morgan Stanley has offered approximately $210.9 billion of CMBS through the capital markets since 1997, including $2.9 billion in 2008.

The Infrastructure, Private Equity and Real Estate Investing Analyst Programs are available in Asia.

The Analyst Program in Merchant Banking

How the program works and the day-to-day experience you can expect

The Analyst Program begins in July with five weeks of intensive classroom-based training typically covering an introduction to the firm, the essentials of finance, accounting and computing software or quantitative analysis. The classroom provides an environment where Analysts can exchange ideas and learn from their peers. Analysts also benefit from practical sessions covering topics such as valuation techniques, modeling methodologies and real-life case studies. During the training, Analysts work in smaller teams to put valuation and modeling skills to practice and develop a "pitch book," which is presented to senior bankers, as if they were clients, at the end of the initial training.

The training program also hosts a series of guest speakers who talk to Analysts throughout the five weeks about a range of subjects including the importance of networking, community involvement and stress management. Analysts also attend a number of social events throughout this five-week period. At the end of training, we hope that Analysts will have built a strong network among their peers and be able to understand financial concepts, build a dynamic model from scratch and have a strong understanding of the Morgan Stanley culture.

Developing Your Career
What you can anticipate as you make progress and after completing the program

We view career development as an ongoing process, and we offer our employees a broad array of challenging opportunities, both on the job and in a training environment.

If you are successful in your role, at the conclusion of the two-year Analyst training program you may be extended an offer to continue as a member of one of the MSIM teams. Other Analysts seek full-time positions in other parts of MSIM or the firm. Some Analysts move on to business school, as some business areas may require an MBA degree to further advance on a particular career track.

Is Merchant Banking Right for You?

A checklist to help you decide if you have the skills and temperament for this area

• You are knowledgeable about the financial markets.
• You are skilled in financial analysis, with strong quantitative and analytical skills.
• You have excellent verbal and written communication skills.
• You have a strong aptitude for detail and good organizational skills.
• You are highly proactive and energetic.
• You are focused on client service.
• You are able to conduct research independently, as well as work in a team.
• You have excellent project management skills.
• You have the ability to adapt to changing priorities and events.
• You continually strive for excellence.

Requirements

We seek candidates with a strong academic background. A finance/economics degree is preferred, but not required. Prior relevant internship or work experience and a demonstrated commitment to a diverse array of extracurricular activities is desirable.    Both oral and written fluency in English are required and fluency in Mandarin or Korean is beneficial.

Selection Process

We typically conduct at least two rounds of interviews for our Analyst program. Interviews will be arranged either on campus or via phone for the first round. The final stage of our process is usually a full-day interview session held at our offices in New York or Hong Kong.

How to Apply and Deadlines

Please visit our website at: http://www.morganstanley.com/about/careers/recruiting/apply.html