Updated with correction, March 28, 2011
Owen Thomas, CEO of Asia at Morgan Stanley, will return to the U.S. in June as chairman of Morgan Stanley Real Estate, according to an internal memo from Colm Kelleher, Morgan Stanley's co-president of institutional securities, obtained by P&I Daily.
A replacement Asia CEO has not been chosen, the memo stated.
Mr. Thomas will remain on the company's management committee.
Erica Platt, a MSIM spokeswoman, confirmed the contents of the memo. The memo stated that the decision to return to the U.S. was “personal” on the part of Mr. Thomas and his family.
Mr. Thomas was credited by Mr. Kelleher in the memo with helping to expand Morgan Stanley's business across multiple markets. During his three years in Asia, Mr. Thomas continued to “play global leadership roles in Morgan Stanley Real Estate investing,” the memo stated.