Gary G. Lynch, Morgan Stanley’s chief legal officer who made his name in the Wall Street corruption cases of the 1980s, is stepping down from that role but becoming part of the management team in London, the firm said Tuesday.
Lynch, 59, is best known for his role as enforcement chief at the Securities and Exchange Commission when the agency brought charges against insider trading charges against Dennis Levine, Ivan Boesky and Michael Milken.
Lynch is expected to remain in London, keeping his vice chairman role and reporting to Walid Chammah, chairman and chief executive officer of Morgan Stanley International. As vice chairman Lynch will stay on the board of the firm’s European subsidiaries and work with both global regulators and major international clients. He is also expected to remain a member of the firm's operating and management committees.”
Morgan Stanley [MS] will begin the selection process for a new chief legal officer based in New York.
After spending 13 years at the SEC from 1985 to 1989, Lynch joined the law firm of Davis Polk & Wardwell as a partner. In that role, he conducted internal probes of corporations, among other matters. In 2001, he became general counsel at Credit Suisse First Boston.
Last year, Lynch had relocated to London and became vice chairman of the firm while still working as the chief legal officer. At the time, John J. Mack, Morgan Stanley’s CEO, said in a prepared statement: “Under Gary's direction, our legal and compliance divisions have achieved tremendous results and we have significantly improved our relationships with regulators around the world. Gary also played a critical role in leading our successful conversion to a financial holding company.”
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