Morgan StanleyThe company is planning to launch an Exchange-Traded Fund Platform this year. This will allow it to join a growing Wall Street industry and continue its push for asset management.

Morgan Stanley’s Head of Investment Management, Daniel Simkowitz, made the announcement in a memo earlier this week.

The memo stated that a first-class ETF platform would allow us to combine our top investment abilities with the wide range of investment vehicles clients are increasingly demanding.

This was the first time that it was reported. Investment News.

In the memo it was stated that Anthony Rochte, from Goldman Sachs, will become Global Head ETF Capital Markets. Allyson Wallace from BlackRock will take over as Global Head ETF Capital Markets.

Morgan Stanley offers mutual funds through Eaton Vance and its MSIM division, which was acquired by it in 2021.

Morgan Stanley shares were up 1.2% Tuesday.