Morgan Stanley legal chief promoted to vice-chair role

Morgan Stanley’s chief legal officer Gary Lynch has been named as the bank’s vice chairman, a move which coincides with the retirement of international general counsel Keith Clark.

Lynch is set to relocate from New York to London to take up the new vice chairman post, where he will work with the bank’s co-president Walid Chamman, as well as continuing with his current legal post.

Lynch, a former executive vice chairman at Credit Suisse and partner at David Polk & Wardwell, will report to Morgan Stanley chief executive John Mack, who is based in New York.

He will remain part of the bank’s main senior management team, dealing with policy and strategy issues, and will also sit on the boards of Morgan Stanley’s subsidiaries across Europe the Middle East and Africa (EMEA) – taking up a bigger leadership role in the region.

News of Lynch’s move comes as Clark announced his intention to retire from his post as international general counsel after more than seven years in the role. His last day at the bank will be 30 June. Morgan Stanley said Clark will not be replaced, and that Lynch will take over some of his duties.

In an additional element to the reshuffle, Morgan Stanley global head of litigation Eric Grossman is taking up a newly-created post of general counsel for the Americas. He will report to Lynch.

News of the changes at Morgan Stanley comes after the recent shake up of Bank of America’s legal function following its takeover of Merrill Lynch. Sajid Hussein now heads up the combined EMEA legal team, with former Merrill Lynch EMEA GC Rob Everett taking on the role as EMEA chief operating officer.

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