Morgan Stanley (NYSE: MS) announced today the appointment of two industry veterans to expand the leadership team within its Investment Management business. Jeffrey L. Shames, the former Chairman and CEO of MFS Investment Management, will join the Firm as a Senior Advisor to Morgan Stanley Investment Management (MSIM). Additionally, Edmond N. Moriarty III, who previously served as a Senior Vice President at Merrill Lynch & Co., will join the Firm as Chief Operating Officer of MSIM. In addition to their new responsibilities in Investment Management, Mr. Shames and Mr. Moriarty will also act as Senior Advisor and Chief Operating Officer, respectively, of Morgan Stanley's Global Research division.
Mr. Shames, who has over 22 years of investment management experience, and Mr. Moriarty, who has over 23 years of experience on Wall Street, will report to Gregory J. Fleming, President of MSIM, and will start in their new roles today.
Mr. Shames will be responsible for all strategy related to MSIM, across investment management, client service and marketing. Mr. Moriarty will have responsibility for all operations across MSIM, including finance and risk management.
"I am extremely pleased to add Jeff and Ed to the senior leadership team as we reposition MSIM to take advantage of its historical strengths as a leading institutional asset manager," said Mr. Fleming. "Together, Jeff and Ed bring to MSIM considerable industry experience and unique skill sets that will help drive forward the progress that has begun in restructuring our Core Asset Management and Merchant Banking businesses. Having worked as an advisor to Jeff for many years, and with Ed during our tenure at Merrill Lynch, I am confident that their combined insights and guidance will be invaluable towards achieving our objectives of superior investment performance, consistent profitability, increased client focus and a best-in-class investment culture."
The expansion of the leadership team within the division will enable the Firm to continue to take steps to refocus on its institutional and intermediary client bases and reposition MSIM for long-term growth, including:
- Reinforcing a best-in-class investment culture in the Long-Only Institutional business;
- Capitalizing on the integration of the Firm's Alternative Investment Partners (AIP) and Graystone Research units into a single fund-of-funds business; and
- Continuing to build out its Merchant Banking business in areas where the Firm has a competitive advantage.
Morgan Stanley Investment Management, together with its investment advisory affiliates, has nearly 1000 investment professionals around the world and approximately $283 billion in assets under management or supervision as of December 31, 20091. By leveraging its global ‘community of boutiques' structure and the strength of Morgan Stanley, MSIM strives to provide outstanding long-term investment performance, service and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide.
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 37 countries. For further information about Morgan Stanley, please visit www.morganstanley.com.
1 AUM excludes the retail asset management business, including Van Kampen, following the decision to sell this business to Invesco, Ltd.
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Jeffrey L. Shames
Jeffrey L. Shames is an Executive-in Residence at the MIT Leadership Center where he teaches classes in Finance and Leadership at the MIT Sloan School of Management. Mr. Shames is the retired CEO and Chairman of MFS Investment Management® and the boards of trustees of the MFS Funds. Mr. Shames joined MFS in 1983 as an Industry Analyst and was named a Portfolio Manager in 1985, Chief Equity Officer in 1987, President and a member of the board in 1993 and Chairman and Chief Executive Officer in 1998. In September 2002, he retired as CEO and retained the Chairman title until his retirement in February 2004. Mr. Shames is a member of the Board of Trustees of the X Prize Foundation, City Year, a national service organization, and Chairman of the Board of the Berklee College of Music. Mr. Shames also serves as a member of the Advisory Board of the MIT Sloan School of Management, the MIT Leadership Center and the MIT Masters in Finance Program, as well as the Advisory Board of WGBH (the Boston PBS station). MrShames has a B.A. from Wesleyan University and an M.B.A. from MIT Sloan School of Management. Before entering MIT, he was a United Stated Peace Corps Volunteer in the Fiji Islands and worked at the U.S. Department of Agriculture.
Edmond N. Moriarty III
Edmond N. Moriarty most recently served as a Senior Risk Executive at Bank of America and previously spent over twenty years at Merrill Lynch & Co., in a variety of management positions across investment banking, global markets and risk management. In October 2007, Mr. Moriarty was named Co-Chief Risk Officer of Merrill Lynch & Co. with responsibility for all market and credit risk management across the firm. Prior to assuming this role, Mr. Moriarty was head of Global Credit & Commitments with responsibility for managing credit risk related to the firm's counterparties, as well as all of the firm's capital commitment processes. Mr. Moriarty joined Merrill Lynch as an investment banker in 1987. Mr. Moriarty is Vice Chairman of the Board of Trustees of Gill St. Bernard's School in Gladstone, New Jersey. He received a B.A. degree from Hamilton College and an M.B.A. from the Darden School at the University of Virginia.
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