Morgan Stanley Real Estate Vice Chairman Jay Mantz Leaving Firm

Morgan Stanley, owner of the world’s largest brokerage, said Jay Mantz is leaving the firm four months after being named vice chairman of its real-estate investing group.

Mantz is departing after more than 17 years at the company, according to an internal memo obtained today by Bloomberg News and confirmed by Mark Lake, a spokesman for the sixth-largest U.S. bank by assets. In September, John Klopp and Olivier de Poulpiquet were named co-chief executive officers and co-chief investment officers of the real-estate investing business as Mantz moved from president and CIO to vice chairman.