Morgan Stanley's Asia PE Chief Gets Axed
Filed in archive Private Equity on December 20, 2008
PE Hub is reporting that Jonathan Mandel, the managing director of Morgan Stanley's Hong Kong-based Asia Pacific private equity banking team, was "let go" as part of a round of layoffs announced last month.
According to PE HUb, "Mandel's fast departure from his new post underscores the brutal environment that private equity firms and their bankers face not just in Western countries, but Asia too."
While Mandal's job covered company investment in most of Asia, Japan was excluded from his portfolio.
Morgan Stanley's action was mirrored last month at Citigroup. Their Asia head, also based in Hong Kong, was Christopher Laskowski. He relocated last month and now works in Chicago...
Photo courtesy of iStockphoto, Image# 6533999
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