Steve Sexauer, large-cap value manager at Morgan Stanley Investment Management, is no longer with the firm, confirmed spokesman Brett Gallaway. When he left is not clear. Rick Behler, managing director and head of U.S. value equities at Morgan Stanley, was named portfolio manager for both the mutual fund and the separate accounts Mr. Sexauer had managed, Mr. Gallaway said. Executive recruiters said Mr. Sexauer is evaluating several options. He could not be reached for comment.