Morgan Stanley has a new chief legal officer.
The firm’s chief executive, James P. Gorman, said on Monday in a memo to employees that Eric Grossman would become Morgan Stanley’s top legal executive, succeeding Frank Barron. Mr. Grossman joined Morgan Stanley in 2006 and most recently was global head of legal, where he oversaw the firm’s advisory law and litigation functions.
This is a big promotion for Mr. Grossman, who has also been asked to join the firm’s operating committee. The chief legal counsel is a critical member of a firm’s inner circle and is often called upon to give advice on the biggest issues facing the firm on any given day.
Mr. Gorman also announced that government relations, the unit led by Michael Stein that had previously reported to Mr. Barron, would now report to Morgan Stanley’s chief operating officer, James A. Rosenthal.
Susanne Craig, The New York Times, January 9, 2012