Morgan Stanley looks east for services
Alongside India, Eastern Europe may yet emerge as banks' back office location of choice.
News reports suggest Morgan Stanley is preparing to open a new centre in Hungary.
Finextra.com says Morgan Stanley is planning a new 400-person research, accounting and IT service facility in Budapest.
The website quotes Nepszabadsag, a Hungarian daily paper, which says the country's labour minister divulged the bank's plans. Morgan Stanley is also reported to be opening a Hungarian mathematical research unit.
