Giant on the move
from Jeremy Gaunt:
MSCI, the index provider used by leading investors across the world, has decided it needs a name change in Greater China. In a news release this morning the firm (which is no longer owned by Morgan Stanley, the MS in its title) said its Chinese business would henceforth be branded as MSCI 明晟.
When I tweeted this @reutersJeremyG, one wag suggested this meant "MSCI small-ladder-bigger-ladder-books-on-a-picnic-table", which is what it indeed looks like to an untrained eye (like mine). But it is actually Ming Sheng, which apparently is supposed to symbolise "brightness and transparency, prosperity and splendour".
That might sound a little flowery for an index provider, but is arguably apt given the role such indices have in opening up markets to investment.
The key point, however, is that MSCI decided it needed a Chinese business name. Henry Fernandez, MSCI's chairman and chief executive officer, said that as his business had grown in China, so it had become increasingly important to have local branding.
With just over a week until the Olympics’ opening ceremony, athletes around the world are collecting their team outfits — and many Chinese bloggers are not happy with theirs, describing the red and yellow blazers, yellow and red shirts and multicoloured ties as resembling tomato scrambled egg, a popular Chinese dish.
When the uniforms were unveiled last week, designer Liu Ruiqi was quoted as saying: “When the Chinese delegation comes out, they will certainly catch the eyes of the audience.” That, it appears, is being achieved already.