Morgan Stanley president Kelleher to retire: memo
Reuters
Published Mar 28, 2019 05:37PM ET
Morgan Stanley president Kelleher to retire: memo
By Elizabeth Dilts
NEW YORK (Reuters) - Morgan Stanley (NYSE:MS) said Thursday that its president, Colm Kelleher, will retire at the end of June, according to an internal memo viewed by Reuters.
Kelleher, 61, worked for the firm for roughly 30 years and will stay on as senior adviser to the firm, according to the memo from Chief Executive James Gorman. Kelleher's replacement was not immediately named.
"Every time I have faced an issue of real significance Colm has been the most important person I have sought advice from," Gorman wrote in the memo.
Kelleher joined the bank's fixed income division in 1989 and was named co-head of the European division in 2004.
From October 2007 to December 2009, Kelleher held the roles of chief financial officer and co-head of corporate strategy. Gorman called Kelleher's role during that period of the financial crisis "instrumental" in the memo.
Kelleher has served as president of the firm since January 2016.
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