Morgan Stanley's money management biz finally lands its star exec

DEC 29, 2009
After months of searching for a star executive to lead its investment management unit, Morgan Stanley has finally found its man: former Merrill Lynch & Co. president Gregory Fleming. Mr. Fleming, who has been working at Yale University as a senior research associate since he left Merrill Lynch in January, will now serve as the president of Morgan Stanley Investment Management, and will also be responsible for Morgan Stanley's global research business. As InvestmentNews reported earlier this year, Morgan Stanley's incoming CEO James Gorman --who previously worked with Mr. Fleming at Merrill Lynch-- has been searching for an experienced executive to revive the firm's investment management business since at least January. The company has since offloaded the retail portion of its money management business in a deal with INVESCO Ltd. and is now more focused on the institutional marketplace. Mr. Fleming, who also served on the board of money management giant BlackRock Inc. until earlier this year, will now oversee the money management business and report directly to Mr. Gorman.

Latest News

Five-person Raymond James team jumps to Janney in Maryland
Five-person Raymond James team jumps to Janney in Maryland

The group led by a 37-year industry veteran brings $470 million in assets to the Philadelphia-based broker dealer.

$20B Merit looks to next phase as Constellation takes minority stake
$20B Merit looks to next phase as Constellation takes minority stake

The Atlanta, Georgia-based national wealth firm revealed its new PE partner as prior backers Wealth Partners Capital Group and HGGC’s Aspire Holdings exited their investments.

$350M father-son duo hops from Osaic to Equitable Advisors
$350M father-son duo hops from Osaic to Equitable Advisors

The latest departures in Ohio mark another setback for the hybrid RIA, which is looking to "expanding its presence across all models and segments of the wealth management industry.”

Fresh off HPS acquisition, BlackRock inks deal for $7.3B ElmTree Funds
Fresh off HPS acquisition, BlackRock inks deal for $7.3B ElmTree Funds

The St. Louis-based real estate investment firm gives the asset management giant a valuable access point to the roughly $1 trillion net lease market.

SEC charges Chicago-based investment adviser with overbilling clients more than $2.5M in fees
SEC charges Chicago-based investment adviser with overbilling clients more than $2.5M in fees

Eliseo Prisno, a former Merrill advisor, allegedly collected unapproved fees from Filipino clients by secretly accessing their accounts at two separate brokerages.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.