Gary Lynch, Morgan Stanley (MS)’s chief legal officer from 2005 until 2010, is leaving the firm.
Lynch, now a vice chairman, will "pursue opportunities outside the firm," according to an internal memo obtained today by Bloomberg News. Pen Pendleton, a spokesman for the New York- based bank, confirmed the contents of the memo. Lynch had been advising Morgan Stanley on policy and strategy issues in his current role, according to the memo.
Lynch, 60, announced in February 2010 that he would give up his role as chief legal officer. In July, Morgan Stanley hired Frank Barron, a litigation partner at Cravath, Swaine & Moore LLP, to replace him in that position.
Lynch headed the U.S. Securities and Exchange Commission’s enforcement division from 1985 to 1989 and led insider-trading investigations of Ivan Boesky and Michael Milken. Former Morgan Stanley CEO John Mack hired Lynch to work at Credit Suisse First Boston in 2001 and then at Morgan Stanley when Mack moved there in 2005. Mack stepped down as CEO at the beginning of 2010 and remains chairman.
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