Morgan Stanley (NYSE: MS) today announced that Gregory J. Fleming, 46, will join the Firm as President of Morgan Stanley Investment Management, including Merchant Banking. Mr. Fleming will also be responsible for Global Research. The heads of each of these businesses will report directly to him. He will serve as a member of the Operating Committee and report to James P. Gorman, who becomes Chief Executive Officer and President of Morgan Stanley in January. Mr. Fleming will be joining the Firm in February. Mr. Fleming previously served as President and Chief Operating Officer at Merrill Lynch. He currently serves as a senior research scholar and lecturer in law at Yale Law School.
Mr. Fleming has long been a highly regarded strategic advisor to leading asset management companies. Among other important industry milestones, he was a key player in the combination of Merrill Lynch Investment Management with BlackRock, where he served as a director. While at Merrill Lynch, he also oversaw the firm's private equity and real estate investment businesses.
Mr. Gorman said, "I am delighted that Greg will be joining Morgan Stanley's leadership team. I am fortunate to have previously worked with Greg for many years, and like so many others throughout the industry have great respect for his operating skills, his effectiveness in developing and executing growth strategies, and his ability to attract and develop world-class talent. Given his proven record of accomplishment, Greg is ideally suited to help us continue building on the progress we have made in our asset management and merchant banking businesses. In addition, given his intimate knowledge of the research function, he understands the role of analysts and the importance of content to a successful institutional and retail securities franchise."
Mr. Fleming said, "I have long admired Morgan Stanley as a pre-eminent global franchise, with a terrific brand, deeply rooted partnership culture and strong leadership team. I have enormous respect for James and the caliber of the team he is assembling. I believe Morgan Stanley is well positioned to thrive, and I am looking forward to joining the Firm and doing whatever I can to help my new colleagues build on their current momentum."
Mr. Fleming served as President and Chief Operating Officer of Merrill Lynch from June of 2007 to early 2009. From 2003 to 2007, he served as Executive Vice President and Co-President of Merrill's Global Markets and Investment Banking Group, where he advised leading global corporations, financial institutions, asset management firms, financial sponsors and hedge funds in the United States and internationally. Previously he was COO of Global Investment Banking and co-head of the Global Financial Institutions Group. Mr. Fleming joined Merrill Lynch as an investment banker in 1992. He also has been a principal at Booz Allen Hamilton. Since leaving Merrill Lynch in January of 2009 after 17 years, Mr. Fleming has been Senior Research Scholar and Distinguished Visiting Fellow of the Center for the Study of Corporate Law at Yale Law School.
Mr. Fleming is a former board member of BlackRock Inc, a member of the Council on Foreign Relations, and a director of Colgate University. Mr. Fleming is a Phi Beta Kappa, summa cum laude graduate in economics from Colgate University and received his J.D. from Yale Law School.
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 1,200 offices in 36 countries. For further information about Morgan Stanley, please visit www.morganstanley.com.
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