Morgan Stanley, the Manhattan, New York based multinational financial services corporation, expects to hire 75 advisers in the US this year. The advisers will be hired to target the rich Latin Americans for investment in the world's largest economy. The company intends to focus on the region to fill-up the vacuum since other international banks have retreated from there.

The banking company plans to continue recruit successful teams from its competition this year. Its strategy is to attract ultra-high-net-worth individuals offering resources similar to the institutional clients. The resources include hedge funds and corporations, including economic and equity research, investing strategies, hedging and bespoke products, reports Bloomberg while covering an interview with James Jesse, head of international wealth management for Morgan Stanley.

With the new hiring, number of Morgan Stanley advisers helping foreigners with their US investments, will stand at 435. The company has added 75 advisers with $25 billion in assets under management during the past two years, reports Daily News.

The asset management service provider has reported in December that its 15,889 advisers have procured businesses of managing wealth worth $1.98 trillion globally. Through focusing on higher profit margins in the wealth-management and brokerage businesses, the company is trying to withstand the shock from bond trading. Investments and wealth management services have brought around half of its $35 billion net revenue during last year.