Morgan Stanley has said that Sheena Shah, a leading currency analyst, will head up a new team that researches crypto assets.
A spokesperson for the company confirmed to City A.M. that Shah’s team will be based in London and research cryptocurrencies’ impact on both equities and fixed income worldwide.
Shah has worked at the company for more than eight years as a currency strategist lead for Europe and her team has previously ranked first in investor surveys, according to her LinkedIn profile.
“The launch of dedicated crypto research is in recognition of the growing significance of crypto currencies and other digital assets in global markets,” Morgan Stanley’s David Adelman, Juliet Estridge and Vishy Tirupattur said in a leaked memo seen by Bloomberg.
The news comes as banks worldwide signal their interest in digital assets and look to increase client exposure to crypto.
Earlier this year the Bank of America corp created its own crypto research team and banking giant Citigroup recently announced it would offer investors access to Bitcoin futures trading products.
In May Morgan Stanley became the first major bank to offer its wealth management clients access to bitcoin funds on the back of growing investor demand.
Morgan Stanley gave no comment when asked for further details about the new crypto team.