Global financial services firm Morgan Stanley is growing its wealth management business in the Tampa Bay region. Over the next three years, the firm plans to add 110 positions, including financial advisors, client service associates and operations managers.
Morgan Stanley provides a range of wealth management, investment banking and investment management services as financial adviser to companies, governments and investors globally.
"Their decision to expand here will not only create new, high-wage jobs for our residents -- it ensures the existing 70 positions will now remain in Hillsborough County,'' says Ken Hagan, chairman of the Hillsborough County Board of County Commissioners.
Alternative locations for the firm’s expansion included cities in Utah and Ohio. Tampa Bay’s talent pool of qualified professionals, depth of resources, diversity and family-friendly atmosphere placed the region at a competitive advantage.
"Tampa’s diverse population, skilled workforce and attractive quality of life make it key for recruiting, developing and retaining the best talent in the industry,'' says Jose Morales, executive director with Morgan Stanley.
In addition to growing its wealth management business, Morgan Stanley aims to nurture existing client relationships while making a long-term investment in Tampa Bay.
"Florida is an important market for us,'' says Morales. "We have developed strong client and community relationships here. The expansion is a natural extension of our business success in the state of Florida.''
The expansion project includes a $550,000 Qualified Target Industry Tax Refund incentive approved by the Hillsborough County Board of County Commissioners and the Temple Terrace City Council. The performance-based incentive includes $5,000 for each new job created -- $440,000 to be paid by the State of Florida, $55,000 by Hillsborough County and $55,000 by the City of Temple Terrace.
"The partnership with the State of Florida has been instrumental to making a long-term commitment to invest in the growth of our business in Tampa,'' says Morales. "With this partnership, we expect to recruit, train and develop people for long-term successful careers.''
The expansion also includes the renovation of a 25,294-square-foot technologically enhanced Temple Terrace facility, which will be ready for existing and new team members to occupy in early April.
For information on hiring opportunities, visit Morgan Stanley’s
website.
Writers:
Kaye Brown
Sources: Jose Morales, Morgan Stanley; Ken Hagan, Hillsborough County
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