Photo: Bloomberg Television
Bloomberg is reporting that Stephen Roach’s departure has been communicated to Morgan Stanley employees in a memo from CEO James Gorman.Roach plans to transition into a full time academic role, according to the memo. He has previously taught at Yale.
Here’s teh full memo (from Dealbook):
February 16, 2012
To: All Employees
From: James Gorman
After nearly 30 years at Morgan Stanley, Stephen Roach has informed me of his decision to retire from the Firm in order to focus on his scholarly pursuits. Since 2010, Steve has served as Non-Executive Chairman of Morgan Stanley Asia and taught on the faculty of Yale University through a joint appointment at the Jackson Institute for Global Affairs and the School of Management. As he transitions full-time into academia, Steve will no doubt continue to animate the scholarly discourse, particularly as it relates to the economies of Asia.
Steve has been a tremendous asset to our franchise. He served as Chairman of Morgan Stanley Asia from 2007 to 2010, representing the Firm to clients, governments and regulators across the region. Previously he served as Morgan Stanley’s Chief Economist, heading up the Firm’s highly regarded global economics research team. During his career, he has been recognised as one of Wall Street’s most influential thought leaders.
Please join me in thanking Steve for the many contributions he has made to Morgan Stanley and in wishing him continued success as he devotes himself to the next chapter of a remarkable career.