UPDATE 1-Morgan Stanley Asia chair Roach to return to New York

* Roach to relocate from Hong Kong to New York

* Will become non-executive chairman, Asia from July 1

* Roach also to join Yale University faculty
(Adds details, background)

HONG KONG, June 4 (BestGrowthStock) – Stephen Roach, Morgan Stanley’s
Asia chairman and one of the region’s best-known economists, is
relocating from Hong Kong to New York and joining the faculty at
Yale University, the bank said in a statement on Friday.

His new role at the bank would be as non-executive chairman
of Asia from July 1, said Morgan Stanley.

Roach, a frequent commentator known for his bearish views on
the global economy, moved to Hong Kong in June 2007 as the
investment bank’s Asia chairman. The promotion from chief
economist to regional chairman — a rare move, given the
sales-driven culture of Wall Street firms — was regarded as an
attempt by Morgan Stanley to boost its profile in the region.

In his new role at the bank, Roach would travel often and
remain in close touch with clients, government officials and
regulators in Asia, according to the statement.

“While Steve has made the decision to return to the U.S. and
join the faculty at Yale, we are delighted he will also remain at
the firm,” said Morgan Stanley Chief Executive James Gorman.

At Yale, Roach will teach at the School of Management and the
Jackson Institute for Global affairs. His first course will be
“The Next China”, and will focus on China’s economy (Read more about the fastest growing economy.).
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(Reporting by Michael Flaherty; Editing by Don Durfee and Chris

UPDATE 1-Morgan Stanley Asia chair Roach to return to New York