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Morgan Stanley CFO to Retire

David Sidwell will be succeeded by Colm Kelleher, currently head of global capital markets.
Stephen TaubMay 1, 2007

Morgan Stanley announced that executive vice president and chief financial officer David Sidwell will retire at the end of the year.

He will be succeeded by Colm Kelleher, currently head of global capital markets. Kelleher will join the management committee and report to chairman and chief executive officer John Mack.

The investment banking giant credited Sidwell for his “vital role” in developing the firm’s strategic growth plan and communicating it to the investment community. “He also has played an important part in Morgan Stanley’s efforts to improve its risk-taking and capital allocation, which has helped the firm deliver record financial performance in recent quarters,” the company added in a press release.

Sidwell joined Morgan Stanley in March 2004 after 20 years at JPMorgan Chase; earlier, he served for nine years with PricewaterhouseCoopers.

“David Sidwell has been a key member of our management team at Morgan Stanley and has helped lead the firm through a period of significant change,” said Mack, in a statement. “His focus, insight and integrity have earned him tremendous credibility — both within Morgan Stanley and throughout the investment community.”

Mack added that Sidwell intended to retire last year but agreed to stay on through the end of 2007 to ensure a smooth transition.

Kelleher joined Morgan Stanley in 1989 and has served in a variety of positions of increasing responsibility in the United States and Europe. He was co-head of fixed income in Europe and led that region’s client coverage group; he also helped establish the firm’s European financial institutions business. Before joining Morgan Stanley, he served four years with the London office of Arthur Andersen.