Daniel Goldberg will step down as head of Morgan Stanley's (MS.N) Brazilian unit at the end of the month to start a hedge fund specializing in high-risk credit products, structured finance and private equity-like investments. Goldberg, a 35-year-old Harvard University-trained lawyer, will move into a new position as nonexecutive chairman of Morgan Stanley Brazil effective July 31, according to a confidential memo to employees obtained by Reuters. His fund will have investment firm Farallon Capital Management as a minority partner, the memo said. In his five years with Morgan Stanley, the former antitrust regulator helped the New York-based bank win business in mergers and stock and bond issuances.
Morgan Stanley is a global financial services firm that, through its subsidiaries and affiliates, provides its products and services to a group of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS remained unchanged at $21.11. In the past year, the shares have traded as low as $21.00 and as high as $31.04. On average, 14963500 shares of MS exchange hands on a given day and today's volume is recorded at 31910.
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