This role is in addition to his job leading Morgan Stanley’s asset management business, according to a Reuters report (see “Morgan Stanley Taps Ex-Merrill Exec to Lead Investment Management“).
In this position, Fleming, who joined Morgan Stanley in 2009, will replace Charles Johnston, president of the Morgan Stanley Smith Barney brokerage joint venture, who leaves the firm at the end of this year, according to the report. Johnston will act as vice chairman of the joint venture for the remainder of the year.
Other management changes at the company, according to Reuters, include:
- Chief risk officer Kenneth deRegt is replacing Jack DiMaio, who is leaving the firm, at the helm of the fixed income sales and trading unit
- DeRegt will be replaced as chief risk officer in the interim by Keishi Hotsuki, who is head of the market risk department
- Jim Rosenthal, the firm’s technology chief, will be Chief Operating Officer