Morgan Stanley has appointed Gregory Fleming as president of Morgan Stanley investment management, including merchant banking. Mr Fleming will also be responsible for global research. The heads of each of these businesses will report directly to him. He will serve as a member of the operating committee and report to James Gorman, who becomes CEO and president of Morgan Stanley in January 2010.
In the past, Mr Fleming has lead several asset management companies. He was a key player in the combination of Merrill Lynch investment management with BlackRock, where he served as a director. While at Merrill Lynch, he also oversaw the firm’s private equity and real estate investment businesses.
He served as president and COO of Merrill Lynch from June of 2007 to early 2009. From 2003 to 2007, he served as EVP and co-president of Merrill’s global markets and investment banking group, where he advised global corporations, financial institutions, asset management firms, financial sponsors and hedge funds in the US and across the globe.
Mr Gorman said: “Given his proven record of accomplishment, Greg is ideally suited to help us continue building on the progress we have made in our asset management and merchant banking businesses. In addition, given his intimate knowledge of the research function, he understands the role of analysts and the importance of content to a successful institutional and retail securities franchise.”
Mr Fleming said: “I have long admired Morgan Stanley as a pre-eminent global franchise, with a terrific brand, deeply rooted partnership culture and strong leadership team. I have enormous respect for James and the caliber of the team he is assembling. I believe Morgan Stanley is well positioned to thrive, and I am looking forward to joining the Firm and doing whatever I can to help my new colleagues build on their current momentum.”
