Morgan Stanley has a new chief operating officer. His name is Jim Rosenthal, and he is the former head of firmwide technology operations and the integrator of Smith Barney at Morgan Stanley. Mr. Rosenthal succeeds Tom Nides, who is leaving to work for Hillary Clinton at the State Department. An expository memo from Morgan Stanley CEO James Gorman appears at The New York Times and other outlets.
The promotion has several ripple effects, including additional responsibilities for chief financial officer Ruth Porat, the subject of a gender-riffic profile in The Times in November. Let’s go to the memo:
Frank Barron, who joined us in September as Chief Legal Officer, will take on added responsibility for coordinating our activities in Washington, D.C. Accordingly, our Government Relations Group led by Michael Stein will now report to him. Frank will also work with Marty Cohen, Corporate Secretary, and me on matters related to the Morgan Stanley Board of Directors, including the annual shareholders’ meeting.
Ruth Porat, Chief Financial Officer, will assume responsibility for the Global Sustainable Finance Group led by Audrey Choi. As its name suggests, this group spearheads our various initiatives around environmental sustainability, economic opportunity and community development, including compliance with the U.S. Community Reinvestment Act.
mtaylor [at] observer.com | @mbrookstaylor