Email error at Morgan Stanley: Internal document sent to clients
An erroneous email from a Morgan Stanley employee led to the leak of an internal document containing IPO preparations and investor information.
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At Morgan Stanley, one of the world's leading investment banks, an accidentally sent email has brought some of the bank's internal transaction information to the fore. According to a report by Bloomberg citing sources familiar with the matter, a document intended for internal bank use was shared instead of a general information file that was planned to be sent to clients.
The document in question primarily contained information regarding investment banking activities in the Asia-Pacific region. It was reported that the document included details on potential IPOs in China, South Korea, and India, as well as information regarding certain transactions in Europe, the Middle East, and Africa.
WRONG FILE SENT TO CLIENTS
The incident reportedly occurred due to an email sent by Mohamed Atmani, head of the Asia-Pacific financial sponsors group in Morgan Stanley's investment banking division. It was stated that Atmani had planned to send a file containing general information about the private equity sector and recent transactions to some clients, but shared the internal version instead.
According to the sources, the document contained information regarding companies preparing for IPOs, private equity and pension funds, projects in the discussion stage, and suspended transactions. Sources in Hong Kong stated that the document also included the names of companies and institutional investors.
It was noted that some of the information in the document was price-sensitive. Following the incorrect transmission, attempts were made to recall the email, but it was reported that the file had already reached some recipients during that process. A blurred copy of the document was later shared on Instagram as well.
According to sources speaking to the South China Morning Post, Morgan Stanley sent a second email to recipients after the incident, asking them not to open the attached file. However, it was stated that the document had already spread within financial circles by that stage.
In a statement to Bloomberg, Morgan Stanley said it takes client confidentiality "extremely seriously." The bank announced that necessary steps regarding the inadvertently shared information were taken quickly and that discussions with the relevant parties are ongoing.
The exact number of clients who received the document and what additional measures the bank will take following the incident have not yet been shared with the public.