Morgan’s Mack Hires 2 of CSFB’s Legal Officers
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Morgan Stanley Chief Executive John Mack, continuing to rebuild the executive ranks of the brokerage, on Monday hired Gary Lynch and Stuart Breslow, two of Credit Suisse First Boston’s top legal officers.
Lynch, 54, CSFB’s general counsel, will be Morgan Stanley’s chief legal officer, reporting to Mack, and also will become a member of the firm’s management committee, the company said.
Lynch headed the Securities and Exchange Commission’s enforcement division in the late 1980s and brought the agency’s famous cases against stock trader Ivan Boesky and junk bond king Michael Milken.
Breslow, 48, CSFB’s head of compliance, said he had accepted an offer from Mack to take the same post at Morgan Stanley, the world’s biggest securities firm.
Mack, 60, who rejoined Morgan Stanley on June 30 after former CEO Philip Purcell left under pressure, said Lynch would help Morgan Stanley meet a goal of improving its standing with regulators.
Morgan Stanley shares slipped 24 cents to $53.40.
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