Morgan Stanley names Carlyle Group executive to be 13th member of its board
By APMonday, June 22, 2009
Morgan Stanley names Carlyle executive to board
NEW YORK — Morgan Stanley said Monday it has named Carlyle Group executive James Hance Jr. to its board, effective July 1.
Hance, 64, is a senior adviser at Carlyle and a former chairman of Carlyle Capital Corp. He previously worked at Bank of America for 18 years as a vice chairman, chief financial officer and board member. He was a partner at what was then PriceWaterhouse in the 1980s.
His appointment brings the number of board members to 13.
“Jim brings a wealth of finance, management and commercial banking experience to our board,” CEO John Mack said in a statement. “He will be a great asset to our franchise.”
Morgan Stanley shares fell $1.64, or 5.8 percent, to close at $26.63 Monday.
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