2027 Investment Management Off-cycle Internship – Emerging Markets Debt (London)

Since 1935, Morgan Stanley is known as a global leader in financial services, continuously evolving and innovating to better serve our clients and our communities in more than 40 countries around the world.

Morgan Stanley Investment Management (MSIM), together with its investment advisory affiliates, has about $2 trillion in assets under management or supervision as of June 30, 2026. With 1,366 investment professionals worldwide, and 59 offices in 26 countries, MSIM is able to provide in-depth local knowledge and expertise while channelling the strength of our global presence and resources. Morgan Stanley Investment Management strives to provide outstanding long-term investment performance, outstanding service, and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations, and individuals worldwide.

The Emerging Markets Debt (EMD) team manages approximately $35 billion across a range of investment strategies. The team analyses the macroeconomic and political environments of more than one hundred countries and translates these fundamental views into investment ideas. Our research process leverages traditional news and crowd-sourced media, economic data releases, relationships with economists and political analysts, and on the ground travel to meet with policy makers and in-country experts. We exploit both long and short investment opportunities and use a variety of sovereign bonds, currencies, equities, and other cash and derivative instruments in order to execute our strategies. Our team is made up of highly motivated professionals with diverse backgrounds who complement our global perspective.

Placement and duration

The Off-Cycle Internship is an opportunity to experience the culture and atmosphere in the Investment Management Division by taking on some of the responsibilities and functions of a Full-time Analyst for a short period. The Off-Cycle Intern will work closely with portfolio managers, analysts, and research associates across the team. The CEEMEA team focuses on Eastern Europe, Central Asia, Middle East and Africa – the ideal candidate will have a strong interest in emerging market economies of these regions and global events shaping this part of the world.

The internship will commence in January 2027 and typically lasts twelve months. This internship will offer you an exciting and a dynamic work environment where you get to work alongside our diverse group of experienced professionals. The work that you do will be interesting and varied. At the end of the internship, exceptional performers will be considered for full-time roles on the team.

Training Program

You will receive on-the-job training and benefit from working alongside experienced professionals on a variety of projects. The role offers close proximity to the investment process and significant exposure to the team’s research process, including interactions with government officials, central bankers, ministries of finance, and representatives of multilateral institutions such as the IMF and World Bank.

Roles and Responsibilities

• Gather, maintain, evaluate, and distribute macroeconomic data from disparate sources for use in the investment research process
• Prepare daily news summaries for portfolio managers by monitoring various news sources for specific countries and regions
• Partake in research and due diligence conference calls and meetings
• Interpret data, create visualizations, and communicate valuable information to the team
• Maintain contact and meeting databases, coordinate complex research travel and support scheduling meetings for portfolio managers and analysts
• Demonstrate flexibility, responsiveness, and the ability to support a global investment team across time zones
• Conduct ad-hoc economic, country or sectoral research for portfolio managers and analysts

Qualifications/Skills/Requirements:

• Bachelor's degree with a strong academic track record required; master’s degree is a plus
• This opportunity is intended for recent graduates with internship experience and limited professional work experience
• You are highly motivated, intellectually curious, and genuinely interested in emerging markets and the investment research process
• You are fluent in English, with excellent verbal and written communication skills. An ability to communicate effectively in multiple languages would be an advantage, particularly languages of CEEMEA region
• You have a keen interest in emerging market countries, politics, economic policy, and macroeconomics
• You have strong analytical and numerical skills
• You anticipate needs, exercise sound judgment, identify process improvements, solve problems independently, operate with a high degree of ownership
• You are highly organized, detail-oriented, and able to manage multiple competing priorities under tight deadlines
• You are comfortable interacting professionally and confidently with senior external stakeholders, including government officials, policymakers, and representatives of international financial institutions
• You have knowledge and operating self-sufficiency in programming language(s), primarily Python, with demonstratable experience in at least one significant coding project
• You have experience with LLMs / AI models, including an understanding of how they operate, and an analytical approach on how to prompt LLMs effectively and utilise AI for automation
• You have a reflex to identify inefficiencies in processes and propose automated solutions/improvements, utilising technology

Application Process and Deadline

We recruit on a rolling basis so application is encouraged as soon as possible. We aim to review all applications within a timely manner, however our response times may vary due to high volumes. Please be assured that you will receive an update via email as soon as a decision on your application has been reached, and kindly note we are unable to accommodate any requests to accelerate the timelines of our application process.

What you can expect from Morgan Stanley

We have a track record of innovation and passion for unlocking new opportunities, we help our clients raise, manage and allocate capital. We do this by offering a wide range of investment banking, securities, wealth management and asset management services. All that we do at Morgan Stanley is driven by our five core values: do the right thing, put clients first, lead with exceptional ideas, commit to diversity and inclusion, and give back. These aren’t just beliefs, they guide the decisions we make every day, ensuring we do what's best for our clients, communities and more than 80,000 employees around the world. And at the core of our success are the people who drive it - relentless collaborators and creative thinkers who are fuelled by diverse thinking and experiences. Wherever you are in our 1,200 global offices, you’ll have the opportunity to work alongside the best and the brightest in an environment where you are empowered to achieve your full potential. We are proud to support our employees and their families at every point along their work-life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry. To learn more about our offices across the globe, please copy and paste https://www.morganstanley.com/aboutus/global-offices into your browser.