Morgan Stanley Invests in Indonesia

Morgan Stanley is going long on Indonesia.

The firm just got a brokerage seat in the country, which means it will be able to trade securities and offer research. James Brewis, former head of sales at UBS's Indonesia office, will head the Morgan Stanley's Indonesia equities unit and plans to hire salesmen, traders and research staff over the next few months, Reuters reports.

The country is a priority for Morgan Stanley Chief Executive James Gorman, who said the bank would set a footprint there in mid-2012.

Godlman Sachs doesn't have a broking license in Indonesia, but MS will have plenty of competition: Nomura, Citigroup, Credit Suisse and Deutsche Bank all have an equity presence in the country.

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