Morgan Stanley Hires Ex-Prime Brokerage CTO For Admin. Unit

May 18 2011 | 10:31am ET

Morgan Stanley has brought back 20-year firm veteran Mark Rice to help lead its hedge fund services effort.

Rice was named chief operating officer of hedge fund services. Bloomberg News reports; Morgan Stanley has more than $120 billion in assets under administration, and the division employs more than 400.

Before leaving the firm in 2004, Rice worked at Morgan Stanley for 2 decades, rising to become chief technology officer of its prime brokerage business. He founded his own research-management systems company, Tamale Software, after his departure; that firm was acquired by Advent Software in 2008.

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