Morgan's Roach to head Asia operations

Morgan Stanley chief economist Stephen Roach, who has predicted that China will surpass the U.S. as the world's leading economy, was tapped to become the firm’s chairman of Asia operations. In his new position, he will be Morgan Stanley's senior representative to governments, regulators, and clients across Asia, the company said today in a statement. Mr. Roach will begin his new role in June and will move to the bank's Hong Kong office in September. He joined Morgan Stanley in 1982, and oversees the firm's team of economists located in New York, London, Tokyo, and Hong Kong. Mr. Roach replaces the recently retired Alasdair Morrison as the bank's Asia chairman. He will no longer publish research in his new position, but will still express his views in economic issues, according to a Morgan Stanley spokeswoman. "Steve has been widely recognized as one of Wall Street's most influential economists and a trusted advisor for our clients," said John J. Mack, chairman and chief executive of Morgan Stanley, according to a statement.”