Prime Brokerage Exec. Press Out At Morgan Stanley

Apr 15 2010 | 10:18am ET

The head of Morgan Stanley’s global hedge fund practice has left the firm.

Joel Press, recruited three years ago from Ernst & Young, has quit Morgan Stanley’s prime brokerage, HFMWeek reports. Since 2007, he has headed the firm’s efforts to find strategic opportunities.

The reasons for Press’s departure are unclear, but they come as Alex Ehrlich, Morgan Stanley’s new prime brokerage honcho, has worked to build out the business. Ehrlich joined Morgan Stanley from UBS last May.

Press served as head of E&Y’s global hedge fund practice for some 17 years.


In Depth

'Smart Beta' Funds In Regulators' Sights, Hedgies May Be Next

Mar 26 2015 | 11:11am ET

Funds that mimic strategies used by active managers for a fraction of the cost could...

Lifestyle

Study: Both Marriage and Divorce Lead to Negative Hedge Fund Performance

Mar 25 2015 | 6:51pm ET

Trouble at home leads to trouble in the market for fund managers, according to researchers...

Guest Contributor

Concerned About Your HFT Exposure? Hedge It!

Mar 26 2015 | 1:06pm ET

High-frequency trading has been a persistent storyline for several years. The trading...

 

Sponsored Content

    Mar 9 2015 | 6:35am ET

    Kelly RodriquesKelly RodriquesAs more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…

Editor's Note