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HIPA names Morgan Stanleyʼs Budapest office ʼCenter of Excellenceʼ

The Hungarian Investment Promotion Agency  has named Morgan Stanleyʼs Budapest office the "Center of Excellence of the Year", with the firm topping a list of 71 competing companies, according to a press release sent to the Budapest Business Journal.

The recognition of the finance companyʼs technological, analytical, and innovation center follows 12 years of consistent growth since its establishment, the press release says.

"Our office opened in 2006 with a 30-person mathematical modeling department, and over the last 12 years it became an important element of Morgan Stanleyʼs global network, employing 2,000 people," said Norbert Fogarasi, head of Morgan Stanleyʼs Budapest office.

Fogarasi added that Budapest supports the company groupʼs operations in a number of ways, including IT developments, banking infrastructure, with a significant amount of employees working in  the financial, risk analysis, mathematical modeling, operations, and legal departments.

"The significance of technology and digitalization grows every day, which further strengthens the importance of our center in Hungary," he added.

"The risk analysis and mathematical modeling departments play a key role in the companyʼs life, with 300 colleagues working in theses fields in our Budapest office. This analysis area offers excellent prospects for workers with a degree in mathematics, physics, or even engineering and finance. Whatʼs more, we have colleagues who arrived from the research institutes of the Hungarian Academy of Sciences."