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Report: Morgan Stanley to shut down equities, forex trading offices in Moscow

U.S. investment bank Morgan Stanley plans to shut down its Moscow-based equities and foreign exchange trading offices because of economic and political conditions in Russia, insiders told Bloomberg News.

The lender will move some employees to London, while other jobs will be cut, sources said.

Morgan Stanley will continue to operate investment banking services from Moscow after closing the trading desks, sources told the Financial Times.