US financial services giant Morgan Stanley is establishing a new technology facility in Montreal, Canada.
The new centre will support Morgan Stanley's business in New York, initially serving as a platform for six technology areas - fixed income, securities processing and settlements, investment management, enterprise data infrastructure, corporate technology and finance and enterprise application infrastructure.
The US bank says it worked with IT services outfit Compuware to develop and implement a pilot delivery centre in the Canadian city. Based on that success, Morgan Stanley is establishing a permanent facility.
The bank says it is launching the new centre with a number of local hires.
As part of its investment in Montreal, the bank is benefiting from an incentive programme operated by regional economic development bodies Investissement Quebec and Emploi Quebec. Details of any incentive received by the bank were not disclosed.
Morgan Stanley also operates technology and business services centres in Budapest, Glasgow, Shanghai and India.