James P. Gorman, the incoming Morgan Stanley chief executive, has hired former Merrill Lynch colleague Gregory J. Fleming to head up its investment management and global research operations.
Flemimg, 46, will be the first outsider to join the executive ranks of Morgan Stanley. Last week, Gorman announced a significant executive reshuffle, with Mitch Petrick stepping down from his position as global head of institutional sales and trading.
Fleming previously served as president and chief operating officer at Merrill Lynch, and alongside Gorman on the Merrill Lynch executive committee until Gormans departure to Morgan Stanley in 2005. Fleming currently serves as a senior research scholar and lecturer in law at Yale Law School.
Fleming was instrumental in the sale of Merrill Lynch to Bank of America, and at one point was considered one of the front runners for the leadership of Merrill Lynch.
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