Morgan Stanley hires COO for investment arm

Morgan Stanley has appointed two industry veterans for its investment management business. Edmond Moriarty, previously senior vice-president and a senior risk executive at Bank of America and former co-chief risk officer at Merrill Lynch, will join the firm as chief operating officer of Morgan Stanley Investment Management (MSIM).

Moriarty will be responsible for all operations across the firm, including finance and risk management, and will be based in New York.

Jeffrey Shames, a retired former chairman and chief executive of MFS Investment Management, has joined the firm as a senior adviser to MSIM. He will be responsible for strategy across investment management, client service and marketing, and will divide his time between Boston and New York.

Both Moriarty and Shames will report to Gregory Fleming, the president of MSIM.

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