Morgan Stanley's top legal officer steps down from role
Morgan Stanley's chief legal officer is stepping down as the financial services firm overhauls its legal department to better confront new government regulations, reports Corporate Counsel. Gary Lynch - a former executive vice chairman at Credit Suisse and partner at US law firm, David Polk & Wardwell - will retain the position of vice chairman in London, where he has been based since May.
February 24, 2010 at 06:36 AM
2 minute read
Morgan Stanley's chief legal officer is stepping down as the financial services firm overhauls its legal department to better confront new government regulations, reports Corporate Counsel.
Gary Lynch – a former executive vice chairman at Credit Suisse and partner at US law firm, David Polk & Wardwell – will retain the position of vice chairman in London, where he has been based since May.
His new role will see him focus on dealings with regulators in Europe.
The management shake-up follows the arrival of Morgan Stanley's new CEO James Gorman.
Gorman's plan is that Morgan Stanley's chief legal officer will now be based in the US, aiding the efforts of chief operating officer Thomas Nides.
Lynch's deputy, Eric Grossman, currently the firm's head of global litigation and general counsel of the Americas, reportedly leads the pack to succeed him in the top role.
Lynch, a former Securities and Exchange Commission enforcement officer, joined Morgan Stanley in 2005.
He was named as the bank's vice chairman in May 2009, a move which coincided with the retirement of international general counsel Keith Clark.
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