Past Events 2006
Ambassador Walker Welcomes Morgan Stanley’s Service Center
On July 18, 2006, representatives of financial advising firm Morgan Stanley and Hungarian Minister of Economy and Transportation János Kóka announced the setting up of Morgan Stanley’s new business and technology service center in Budapest. Morgan Stanley's decision to base their services support in Budapest follows a growing trend among international businesses that have moved similar operations to Budapest.
Morgan Stanley representatives attributed the selection of Budapest to their positive experiences with the quality of Hungary’s education and labor force, and the country's political and economic stability. The Budapest center will be responsible for supporting business from the firm's New York and London branches, as well as for mortgage financing, financial controls and IT tasks. The strategic and long-term project will bring further employment and technology developments, the company's representatives added.
Ambassador Walker welcomed Morgan Stanley's decision and declared that he was not surprised that Morgan Stanley identified Hungary as the most appropriate location for their center. He added that he understands that Hungary has a unique ability to produce great minds in many fields and cited achievements by Hungarian scientists in the United States as an example.
Minister of Economy and Transportation János Kóka thanked Ambassador Walker for being so supportive in fostering even stronger U.S.-Hungarian relations and expressed gratitude for the trust of Morgan Stanley. He drew attention to Hungary’s plans to become Central and Eastern Europe’s number one location for service centers and said that many companies looking for a quality workforce and high added value have already selected Hungary because of the excellent performance of its human resources.