Morgan Stanley will establish a new U.S. financial hub in Dallas backed by a $684M capital investment, Texas Governor Greg Abbott announced Monday. The state awarded the bank a $43.8M Texas Enterprise Fund grant and a $40K Veteran Created Job Bonus, and the hub is expected to create more than 3,800 jobs. The move adds Morgan Stanley to a growing list of Wall Street firms putting down roots in the region known as Y'all Street, following NYSE Texas's opening in March, the Texas Stock Exchange's launch of trading in July, and Nasdaq's plans for a regional headquarters in Dallas. Morgan Stanley shares fell 1.5% in late morning trading after President Trump rejected Iran's cease-fire proposal.
Morgan StanleyMorgan Stanley commits $684M to build a Dallas hub with 3,800 jobs, backed by a $43.8M Texas Enterprise Fund grant
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