The co-head of Morgan Stanley’s private equity division and another top asset management executive are leaving the firm.
Stephen Trevor and Stuart Bohart served as co-heads of asset management at Morgan Stanley until February, when Gregory Fleming took the reins as president. Since then, Trevor has led the p.e. business, while Bohart, a former head of Morgan Stanley’s prime brokerage business, had overseen about $230 billion of Morgan Stanley Investment Management’s $260 billion in assets, including hedge funds and p.e. funds.
Bohart, who formerly worked at FrontPoint Partners, the hedge fund later acquired by Morgan Stanley, is said to be considering another asset management job outside of Morgan Stanley, The Wall Street Journal reports. He remains an adviser to Fleming, but is no longer managing money on a day-to-day basis.
Trevor, who joined the firm from Goldman Sachs four years ago to help it build its private equity business, is also set to leave this summer. His co-head of p.e., Alan Jones, will remain with the firm.