Morgan Stanley has appointed David Aronovitch as its new SEO for the Southeast Asia region. He has been promoted to strengthen the company’s franchise in the region, according to a report by Reuters.

The latest appointment will also allow Ronald Ong, a veteran banker with a career spanning three decades, to focus on his role as the chairman of Southeast Asia, said the same report. 

Both Aronovitch and Ong will resume their services in the coming weeks. The same was confirmed by a Morgan Stanley spokesperson. 

The new CEO of the SEA region, Aronovitch, became part of Morgan Stanley in 1998 as an analyst. He joined as the head of Asia Pacific consumer retail investment banking in 2009 before becoming the global co-head in 2018. Aronovitch will continue to maintain sector client coverage responsibilities in his new role. 

Ong will continue to play a "crucial role with senior clients and regulators" as chairman. He has been with Morgan Stanley since 1995 and assisted the company in growing its franchise in Southeast Asia since 2004.