Morgan Stanley Investment Management is restructuring the global investment group, its primary investment operation, according to an internal memo sent to employees earlier this week by Owen Thomas, acting president. The company divided the group into three units — equity, fixed income and alternative investments — and is searching for an individual to head the alternatives business.
Joseph McAlinden, managing director and CIO, was named CIO and head of the new global equity group. David Germany, managing director and former head of the firm's global fixed-income strategies, will be CIO and head the new global fixed-income group. Raj Gupta, who had been the managing director and global head of fixed income and alternatives, will move into a new role, according to the memo. Further details could not be learned as of press time.
Until Morgan Stanley identifies an individual to head the new alternatives group, the leaders of the firm's Alternative Investment Partners, hedge funds and private equity, and senior loans business will report directly to Mr. Thomas.
Chad Peterson, spokesman for Morgan Stanley Investment Management, could not say at press time if an executive search firm has been hired to find candidates for the new alternatives position.
