Neville McKay Joins Morgan Stanley

London —

Morgan Stanley today announced the appointment of Neville McKay as a Managing Director and Head of the European Pensions Group.

Mr. McKay, aged 49, joins after 16 years at PricewaterhouseCoopers, where he held a variety of senior roles in London and New York. Most recently, he served as a Partner in PWC's pensions business with responsibility for advising European companies and trustees on all of their pension issues.

In his new role, Mr. McKay will lead a team of professionals in the U.K. and Europe with responsibility for advising clients on issues such as managing and reducing pension deficits, as well as complex pension-related issues in M&A situations. He will be based in London and report to Jakob Horder, Head of Capital Markets for European Financial Institutions.

Commenting on the appointment, Mr. Horder said: "Neville brings many years of pension industry experience and in particular a unique skillset in terms of advising companies on broader strategic issues related to their pensions plans. His appointment is a further sign of Morgan Stanley's commitment to helping clients realize creative, long-term solutions to their pension issues at a time of profound change in the industry."

Morgan Stanley (NYSE: MS) 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.

Note to Editors:

Neville McKay

Education: University of Durham, BA Mathematics - 1979

2002-Current: Partner, Pensions Advisory, PWC, London

1996-2002: Partner, Human Resources, PWC, London & New York

1994-1996: Partner, Pensions Advisory, PWC, London

1990-1994: Pension Consultant with a focus on M&A, PWC, London

1987-1990: Pension Consultant, The Mercers Company, London

1982-1987: Marketing Actuary, Sanlam / Southern Life, South Africa

1979-1982: Actuary, Government Actuary's Department