Morgan Stanley has given its entire Hong Kong investment banking team special devices to use in mainland China, in a sign of rising concerns over data compliance for staff travelling to the country.
Earlier this year the Wall Street bank gave an iPhone and an iPad to its 300-plus Hong Kong-based staff, according to five people with knowledge of the matter. These devices have limited functionality, offering only access to work emails and online meeting apps.
While some US companies have given their US-based executives so-called burner phones to travel to China, it is not common for their Hong Kong-based counterparts to do the same. Morgan Stanley’s staff in Hong Kong range from junior analysts to managing directors.
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