2027 Institutional Equity Co-Op (United States)

Overview & Placement

Morgan Stanleys Institutional Equity Division (IED) is a world leader in the origination distribution and trading of equity equity-linked and equity-derivative securities. The Division services a global Institutional client base providing clients with innovative product solutions that help to generate alpha within their portfolios.

Co-Ops will spend approximately 6 months fully immersed on a desk within IED. Desks include:

Global Institutional Equity Sales: Responsible for managing and deepening relationships across the firms largest and most sophisticated institutional equity clients. The role has four primary components:

• Investment Content & Idea Generation: Deliver differentiated Morgan Stanley research market insights and actionable investment and trade ideas tailored to clients portfolios strategies and investment priorities.
• Capital Markets: Facilitate client participation in Morgan Stanleys equity capital markets activity including IPOs follow-ons block offerings and other transactions while providing relevant market context and investor feedback.
• Firmwide Connectivity & Client Solutions: Serve as a strategic gateway to Morgan Stanleys broader platform connecting clients with the firms resources and capabilities including Corporate Access Cash Trading Electronic/Algorithmic Trading Derivatives Prime Brokerage Research and other relevant products and expertise across the firm.
• Commercial Development & Market Intelligence: Identify and develop opportunities for Morgan Stanley by maintaining a deep understanding of clients portfolios investment priorities positioning and evolving needs. Translate client sentiment and market intelligence back to Research Trading Capital Markets and other internal partners to help inform the firms strategy deepen client relationships and drive revenue.

Prime Brokerage Department Profile: For more than 40 years Morgan Stanley has led the industry and set the standard for excellence in Prime Brokerage. Our broad and deep client relationships market leading platform and intellectual insights enable us to be a world class service provider to our clients for their financing market access and portfolio management needs.

As part of the Institutional Equity Division Prime Brokerage is a strategic partner to hedge funds and institutional clients across the globe. Prime Brokerage provides clients with clearing and custody services securities lending and financing risk analytics consulting introductions to potential investors and access to world-class proprietary technology.

Prime Brokerage acts as a portal into the firm and assists clients with navigating Morgan Stanleys vast resources such as Equity Sales and Trading Derivatives Securities Lending Technology and Operations

• Prime Brokerage Sales : Works with Morgan Stanleys hedge fund clients to deliver the resources of its prime brokerage platform and the broader firm. Morgan Stanley Prime Brokerage provides hedge funds with clearing custody and financing solutions for their portfolios in addition to Capital Introductions and Business Consulting solutions. A Prime Brokerage salespersons role is primarily twofold: (1) to bring in new Prime Brokerage business by pitching our offering and capabilities to prospective startup or existing hedge funds and (2) to manage the relationship with existing hedge fund prime brokerage clients.
• Prime Brokerage Capital Introductions : Facilitates the flow of capital from a global base of institutional investors to the hedge fund clients of MS Prime Brokerage. We speak with decision makers at institutional investors (e.g. endowments fund of funds pensions consultants etc.) about their alternatives portfolios and discuss hedge funds that may be a fit as they make their investment decisions. We also work closely and consult with Portfolio Managers Chief Operating Officers and Marketing & Investor Relations professionals on hedge fund business development strategies and marketplace positioning.
• Prime Brokerage Consulting : Provides strategic consulting and support to start-up and existing hedge fund clients on the aspects of creating operating and optimizing their hedge fund businesses. We work with clients through all phases of their evolution prelaunch growth and maturity. The PB Consulting team is often the first call for both start-up and existing clients that are at various stages in their lifecycle.
• Prime Brokerage Client Coverage : The Prime Brokerage Client Coverage Co-op sits at the center of the client experience partnering with teams across Morgan Stanley to support leading hedge funds and institutional investors. This role requires strong communication and relationship-building skills offering the opportunity to collaborate across Client Coverage and the broader Prime Brokerage organization while supporting client service risk monitoring operational oversight and strategic projects. Through this hands-on experience the Co-op gains exposure to financial markets Prime Brokerage products and client relationship management while helping deliver exceptional service and innovative solutions.
• Prime Brokerage Content: Curates strategic research covering trading activity in the Hedge Fund universe analyzing positioning and leverage across various factors thematics and regions to identify where Hedge Funds pose risks to equity markets. The team analyzes underlying market technicals coupled with Hedge Fund trading behavior to form broad market views to aid decision-makers in their investment process (CIOs Portfolio Managers Traders) by highlighting crowding risks and identifying potential sources of alpha. The team collaborates closely with various Trading / Equity Derivatives desks to form these views to deliver an all-encompassing market outlook to our clients.
• Prime Brokerage Derivatives Clearing : Manages the clearing of Futures Options and Over-the-Counter (OTC) Swaps at Clearing Houses globally. Derivatives Clearing services are utilized by a variety of institutional client types leveraging both speculative and hedging strategies across a wide range of asset classes including equities fixed income FX and commodities. Our team works directly with clients to ensure an optimal client experience and product offering providing clients with access to 70 global markets in order to further enhance their portfolios.
• Prime Brokerage Finance & Analytics : The PB Finance team within the Institutional Equities Divisions (IED) Prime Brokerage business delivers financial analytics client profitability insights treasury and liquidity management balance sheet optimization and business performance reporting to support growth and informed decision-making. The role partners closely with Sales Client Coverage Finance Technology and other teams to drive business initiatives optimize the deployment of financial resources evaluate client and product opportunities and provide actionable insights that enhance profitability capital efficiency and the overall effectiveness of the Prime Brokerage platform.

Qualifications/Skills/Requirements

• Availability to work full-time in-person from January - June 2027 from role location
• Pursuing an undergraduate degree with a graduation date after December 2027
• Minimum 3.0 GPA
• Advanced knowledge of the Microsoft Office Suite
• Ability to learn and use new software applications
• Excellent written and verbal communication skills with the highest attention to detail
• Professional attitude and demeanor strong work ethic
• Strong team-player and collaborator enthusiastic motivated
• Ability to execute quickly multi-task and prioritize
• Quantitative analytical and problem-solving skills
• Quick-learner; adaptable to changing business requirements
• While no prior knowledge of finance or trading is required must have a keen interest in finance and markets

Application Process

As part of the application applicants will be asked to rank the above desks in order of preference. If selected to progress candidates will undergo desk-specific interviews. Note: applicants may be selected to interview for more than one desk.

Candidatesmustapply with their resume through the Morgan Stanley website. Resumes will be reviewed on a rolling basis and students are highly encouraged to apply as soon as they are order for a students application to be considered complete students must submit an application and complete a HireVue (instructions emailed upon submission of application).

Expected base pay rate(s) for the role will be $52.89 per hour at the commencement of employment. However base pay if hired will be determined on an individualized basis and is only part of the total compensation package which depending on the position may also include commission earnings incentive compensation discretionary bonuses other short and long-term incentive packages and other Morgan Stanley sponsored benefit programs.

Morgan Stanley is an equal opportunity employer committed to building and maintaining a workforce that is diverse in experience and background. Our recruiting efforts reflect our strong commitment to a culture of inclusion where individuals are hired developed and advanced based on their skills and talents.

Our workforce reflects a broad cross-section of the global communities in which we operate bringing a variety of backgrounds talents perspectives and experiences.

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