Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Morgan Stanley’s U.S. Economist Berner Leaving Firm

Morgan Stanley’s Chief U.S. Economist Berner Leaving Firm
Richard Berner, Chief Economist for Morgan Stanley is leaving after 11 years as the firm’s chief U.S. economist. Photographer: Frank Polich/Bloomberg

Richard Berner is leaving Morgan Stanley after 11 years as the firm’s chief U.S. economist.

Berner will remain at the sixth-largest U.S. bank by assets in the “near term” as an adviser, New York-based Morgan Stanley said today in an internal memo obtained by Bloomberg News and confirmed by Sandra Hernandez, a spokeswoman for the firm. David Greenlaw will serve as active chief U.S. economist, according to the memo.

It will take “a couple of years” for the unemployment rate to drop below 8 percent, Berner said last week in an interview on Bloomberg Television’s “Surveillance Midday” with Tom Keene. Berner and Greenlaw were the most accurate forecasters of unemployment in a Bloomberg survey of 65 economists covering the four quarters ending in June 2009, the month the recession ended.

Berner was also co-head of the firm’s global economics team, and Joachim Fels will become sole head of the group, according to the memo.

Berner holds a Ph.D. in economics from the University of Pennsylvania in Philadelphia, and previously worked at the Federal Reserve. Berner has said he expects that the U.S. economy expanded by 4.3 percent in the fourth quarter of last year.

Dow Jones Newswires reported the departure earlier today.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.