Morgan Stanley Hires Iseley, Wijay to Build Wholesale Mortgage Lending Unit

Iseley and Wijay Have More Than 37 Years of Experience in the Mortgage Industry

New York —

Morgan Stanley (NYSE: MS) announced today that Wes Iseley and Arvin Wijay have joined Morgan Stanley Credit Corp. in Orange County, California as Executive Vice President and Senior Vice President, respectively. Mr. Iseley, who will be Head of Wholesale Mortgage Lending, and Mr. Wijay previously worked for Santa Monica-based Fremont General Investment & Loan.

"The caliber of these two hires demonstrates Morgan Stanley's long-term commitment to building an industry leading residential mortgage platform," said Anthony Tufariello, Global Head of the Securitized Products Group. "Wes and Arvin helped build Fremont from a near start-up to one of the leading mortgage originators."

In their new roles, Mr. Iseley and Mr. Wijay will collaborate with the Firm's existing residential mortgage team to develop and build out a world-class wholesale lending platform. Mr. Iseley will report to Kevin Rodman, Managing Director and President of Morgan Stanley Credit Corp. Mr. Wijay will report to Mr. Iseley.

Mr. Iseley, 47, has over 25 years of experience in the sub-prime mortgage industry, with over 19 years at Associates First Capital and five years at Fremont Investment & Loan. He has held a variety of positions in the mortgage business, focusing on business development, operations, branch management, and business leadership. Most recently, Mr. Iseley had responsibility at Fremont for sales, servicing, operations and support, helping to build the business from a near start-up to over $3 billion in originations per month.

Mr. Wijay, 38, has over 12 years experience in financial analysis and planning, focusing on control procedures, risk management, and process efficiencies. Mr. Wijay is a Master Certified Mortgage Banker, and has held a variety of positions in the mortgage business, including involvement with risk based pricing, operations reengineering, financial reporting, and strategic planning.

Morgan Stanley is a global financial services firm and a market leader in securities, investment management, and credit services. With more than 600 offices in 30 countries, Morgan Stanley connects people, ideas and capital to help clients achieve their financial aspirations.