Morgan Stanley

Morgan Stanley Private Wealth Management Names Ernesto De La Fe Head of Latin America

Aug 16, 2006

Will Open New Private Wealth Office in Miami

New York —

Morgan Stanley (NYSE: MS) Private Wealth Management announced the appointment of Ernesto A. de la Fe, an executive with extensive wealth management experience in the region, as Managing Director and Head of Latin America.

Concurrent with this new position, which is effective September 5, a Private Wealth Management Office will be opened in Miami, FL, where Mr. de la Fe resides, to serve high net worth Latin American clients and institutions.

Donald J. Herrema, Head of Private Wealth Management, Americas, announced the appointment. He said, "Ernesto is a seasoned executive with deep knowledge of and extensive experience in the Latin American markets. He is the ideal person to lead our expansion in this market and to open a new office in Miami to serve the many Latin American clients who can benefit from Morgan Stanley's considerable array of products and services for high net worth individuals, families and institutions."

Mr. de la Fe was most recently at Lehman Brothers, where he was Managing Director, Investment Management Division, and head of business development for Latin America. In this role, he developed the firm's offshore asset management distribution strategy with high net worth individuals and family offices, and served as a senior relationship manager in Latin America and the U.S. Hispanic market. He joined Lehman Brothers in 1994.

Active in community healthcare and Hispanic access to capital, Mr. de la Fe has served as Vice Chair of the Miami Dade Public Health Trust, and on the board of the New America Alliance Institute in Dallas. He continues to be active in promoting Hispanic diversity within the financial services industry.

Mr. de la Fe has a BBA from the University of Miami, and an MBA from the Thunderbird-Garvin School of International Management. He did post-graduate study at the Institute for International Studies and Training in Japan, and at the Harvard Business School.

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.