Jaipur-born Ruchir Sharma will step down as the chief global strategist of Morgan Stanley after 25 years of service at the US multinational investment bank and financial services company. Sharma joined Morgan Stanley in 1996 and is currently based in New York. He is the author of Breakout Nations, a 2012 international bestseller, and The Rise and Fall of Nations, a 2016 New York Times bestseller. His latest book is “The 10 Rules of Successful Nations”.
According to a Reuters report, Morgan Stanley has appointed Amy Oldenburg as the Head of Emerging Markets, replacing Sharma.
Bloomberg named Ruchir one of the top 50 Most Influential People in the world in October 2015 but he has had a fair share of criticism as well. For instance, the $4.7-million Morgan Stanley Emerging Markets Breakout Nations fund was closed in 2020. According to a report by Citywire Pro Buyer, the fund was managed by Sharma since its inception in December 2016. The strategy lost 16.99 per cent in dollar terms.