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Monday, February 22, 2010

Ex-MFS Chief Joins Morgan Stanley

Reported by InvestmentWires Staff, 

Former MFS chairman and CEO Jeff Shames has joined Morgan Stanley Investment Management as senior adviser. Morgan Stanley on Monday unveiled Shames' appointment, along with that of ex-Merrill Lynch executive Edmond Moriarty III as chief operating officer of MSIM.

Shames and Moriarty's arrival at MSIM on Monday comes as Morgan Stanley is in the process of selling its retail asset management business, including Van Kampen Investments, to Invesco. The $1.5 billion deal, first unveiled last October, is expected to close this spring. Morgan Stanley will then focus solely on institutional clients.

Shames, who started at MFS as an industry analyst in 1983, became the Boston fund firm's chairman and CEO in 1998. He relinquished his CEO title in 2002 and stayed on as chairman until 2004.  

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