David Hay has been named CEO of Morgan Stanley Real Estate Romania. Hay stepped down as head of AFI Europe Romania, a division he ran for the past seven years, this spring. Morgan Stanley entered Romania this year when it took over AEW Europe, which left the country after a decade of operation. Morgan Stanley is also in the process of acquiring the America House office building in Bucharest. The company operates only two other offices in the region, in Poland and Hungary. The US real estate platform manages assets worth $33bn.
