David Moffitt, one of the founders of hedge fund Mead Park Management, will join private equity firm J.C. Flowers & Co LLC, according to a memo obtained by the New York Times. Moffitt will head a new platform, which will involve buying fixed-income assets, the paper reported. (nyti.ms/1AyfgDz)These investments would include portfolios of loans to small and midsize businesses, and commercial and residential real estate, the paper reported, citing a person familiar with the matter.Before starting Mead Park, Moffitt worked at Morgan Stanley in 2009 as head of its structured products and securitized businesses. (Reporting By Shivam Srivastav in Bangalore)
Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS remained unchanged at $33.91. In the past year, the shares have traded as low as $26.41 and as high as $35.09. On average, 8291640 shares of MS exchange hands on a given day and today's volume is recorded at 400.
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