Morgan Stanley's India exit sign of things to come?

Morgan Stanley selling its Indian wealth management business to UK bank Standard Chartered in May could be a sign of things to come. Lacklustre growth in developed markets over the past few years has led private banks to look to developing economies, with many international players setting up operations in India, China, Singapore and other Asian countries. Many of these countries were experiencing double-digit growth or close to it for years – Morgan Stanley set up its wealth ma…