Sunday, 14 February 2016
Last updated 1 day ago
Jul 15 2011 | 12:52pm ET
Morgan Stanley's top executive in Brazil is leaving his post to launch a hedge fund with the help of Farallon Capital Management.
Daniel Goldberg will step down as president of Morgan Stanley Brazil later this month. He plans to found a special situations hedge fund focused on distressed debt, structured finance and private equity-style investments.
San Francisco-based Farallon will have a minority stake in the new firm, which does not yet have a name, Morgan Stanley said in an internal memo.
Goldberg, who was named head of Brazil's antitrust council in 2003 at the age of 27, became president of Morgan Stanley Brazil last year. He spent five years at the firm, including a stint as head of its investment banking operations in the country. Goldberg will become non-executive chairman of the unit when he steps down as its chief at the end of the month.
"Daniel has helped build a franchise that has never been stronger," Christopher Harland, head of Latin America, said in the memo.
Goldberg's plans were first reported by Veja magazine.