Morgan Stanley cuts dozens of investment banking jobs in Asia-Pacific, sources say

FILE PHOTO: The corporate logo of financial firm Morgan Stanley is pictured on the company's world headquarters in New YorkHONG KONG -Morgan Stanley is cutting at least 50 investment banking jobs in the Asia-Pacific region due to a deals slump, two sources with knowledge of the matter said.

Bankers based in Hong Kong and mainland China are going to be affected the most, they said. All of the sources declined to be named as they were not authorised to speak to media.In the Asia-Pacific region, merger and acquisition advisory fees for the bank in the first quarter dropped 41.5% to $30.4 million, its latest earnings report showed.

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