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Morgan Stanley to open research center in Budapest

Morgan Stanley will open an eastern European research center in Budapest to capitalize on Hungary's tradition in mathematics and innovation, daily business Napi Gazdaság reported, citing an unnamed company spokesman. Morgan Stanley will begin hiring 25 employees for its Budapest financial-mathematical research center in February, with the site due to open in April, the newspaper reported. The U.S. securities firm selected Budapest from three cities in the region, Napi said.