Morgan Stanley has named Sean Chao as chief executive of its Taiwan operations.

Chao was most recently the head of UBS's Taiwan business. He is a veteran of the bank's operations on the island, and has also served as its investment banking head and chairman of asset management there. He takes over from Gary Kuo, who left the company in July.

The appointment comes at a time when Morgan Stanley is working to boost its presence in the country, particularly in the areas of fixed income and private banking. The firm is currently actively involved in merger and acquisition advisory activities in Taiwan, providing assistance to the likes of MBK Partners and American International Group.