Morgan Stanley appoint Greg Fleming to head global wealth unit

17 January 2011

Greg Fleming, a former president at Merril Lynch, has been appointed as head of Morgan Stanley’s global wealth management unit.

The new post holder, who currently heads up the bank’s asset management business, is to be appointed as president of the division.

He will replace Charles Johnson, a former Citigroup professional who is looking to retire during 2011.

In an internal note to Morgan Stanley staff, James Gorman, Morgan Stanley chief executive officer, which was quoted by the New York Times, said: “Greg has made great progress realigning the asset management business over the past year - establishing a strong management team and focusing our strategy on Morgan Stanley’s historic strengths.”

Mr Fleming originally joined the bank in 2009 to run the investment management side of the business.

His additional role accompanies news of Ken deRegt’s appointment as head of Morgan Stanley’s fixed income sales unit.

Mr deRegt is moving from his current role as chief risk officer.

Earlier in the month, the role of Colm Kelleher, co-president of institutional securities, was expanded to include territories such as the Middle East, Europe and Asia outside of Japan.

By Jim Ottewill

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