Morgan Stanley Strengthens Australian Healthcare Research with Key Appointment

2 min read | November 06, 2024 01:03 PM AEDT | By Team Kalkine Media

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Highlights

Morgan Stanley appoints David Bailey as executive director for Australian healthcare research.

Bailey brings over seven years of experience from Macquarie.

Transition follows Sean Laaman’s move to Morgan Stanley’s U.S. biotech team.

Morgan Stanley has made a significant addition to its Australian healthcare research team by appointing David Bailey as executive director. Bailey, a respected figure in healthcare equities research, joins the firm from Macquarie Group (ASX:MQG), where he has been an influential presence for the past seven years. His move to Morgan Stanley underscores the firm’s commitment to reinforcing its healthcare research capabilities in the region.

Bailey's professional background spans more than a decade, having worked at Credit Suisse before his tenure at Macquarie. His extensive experience and industry knowledge are expected to complement Morgan Stanley’s existing global healthcare team. According to an internal memo, Bailey is recognized for his "thought leadership" and expertise, qualities that will play a crucial role as he steps into his new role at Morgan Stanley.

Bailey's appointment comes as Morgan Stanley seeks to enhance its healthcare equities research following the departure of Sean Laaman. Laaman, who has led Australian healthcare coverage for Morgan Stanley for nearly 20 years, recently moved to New York to join the firm’s U.S. research team. In his new role, Laaman will serve as a senior biotech analyst, contributing to the company’s strategic research efforts in the biotechnology sector.

Richard Wiles, Morgan Stanley’s head of research for Australia, will oversee Bailey in this transition. Wiles, who also leads the bank’s research on financial institutions, expressed optimism about Bailey’s appointment, citing his experience and insights as valuable additions to the team. Wiles’ leadership has been instrumental in Morgan Stanley’s research performance in the region, with the firm recently securing the top position in Institutional Investor’s All-Asia research rankings for the tenth consecutive year in 2024. Additionally, Morgan Stanley currently holds the number one spot for research in the Australia/New Zealand region.

This transition highlights Morgan Stanley’s focus on strengthening its industry coverage in the healthcare sector. With Bailey's expertise, the firm is expected to continue its legacy of research excellence, providing enhanced insights and analysis for its clients in Australia’s healthcare industry.

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