US-based lender Morgan Stanley has appointed Michael Levy as its new head of traditional asset management.
In the new role, Levy will succeed Arthur Lev, who will now serve as chairman of the investment-management arm.
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Separately, Morgan Stanley’s merchant banking and real estate business head Ed Moriarty has now been given the additional role of managing alternative investments and managed futures, Reuters reported citing a memo.
According to the investment management unit president Gregory Fleming, the change was done to "bring all of our alternative businesses under one leadership structure."
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