Marcus Rivaldi joins Morgan Stanley

London —

LONDON, June 9, 2009 - Morgan Stanley (NYSE: MS) announced today that Marcus Rivaldi has joined the Firm as an Executive Director in Fixed Income Research.

Mr. Rivaldi will be responsible for credit analysis of European insurance companies. He will be based in London as part of the European Financials Credit Research group, reporting to Jackie Ineke.

Commenting on the appointment, Greg Peters, Global Head of Fixed Income Research, said, "We are delighted that Marcus is joining Morgan Stanley. Having a dedicated insurance credit analyst will enhance our research offering to investors and satisfy the growing demand for high-quality and focused credit analysis of this critical sector."

Mr. Rivaldi joins Morgan Stanley from the Royal Bank of Scotland (RBS) where he was a Director in the group's Fixed Income Hybrid Capital Advisory and Structuring business.

Prior to his role at RBS, Mr. Rivaldi spent six years at Standard and Poor's where he was a senior insurance analyst and head of European reinsurance and London insurance market sectors.  Mr Rivaldi has also held positions at the Faraday Group and at Moody's Investors Services.