Longtime Morgan Stanley prime brokerage exec to retire: memo

This post was originally published on this site
https://i-invdn-com.akamaized.net/news/LYNXMPEE0U0NF_M.jpg
© Reuters. Longtime Morgan Stanley prime brokerage exec to retire: memo© Reuters. Longtime Morgan Stanley prime brokerage exec to retire: memo

By Lawrence Delevingne

NEW YORK (Reuters) – Alex Ehrlich, co-head of the prime brokerage business at Morgan Stanley (N:), plans to retire at the end of 2019, according to an internal memo seen by Reuters and confirmed by a spokesman.

Ben Walker, who also co-heads the business, will become the sole chief of the unit, the Oct. 7 memo said.

Ehrlich joined Morgan Stanley in 2009 after roles at UBS AG and Goldman Sachs (N:) in a career spanning 40 years.

Ehrlich and Walker did not immediately respond to requests for comment.

The memo said Ehrlich “played a critical role” in the management Morgan Stanley’s prime brokerage business and has been “instrumental in overseeing the growth and success” of listed derivatives and fund administration.

“He has been a champion of diversity and has had a huge impact on our culture, our clients and the development of our people,” the memo said.

Morgan Stanley is usually at or near the top of prime brokerage and equities trading rankings. Prime brokers provide services to hedge funds and other large investors, including help with trading and raising money.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Add Comment