Morgan Stanley Corporate Affairs Chief McFadden to Depart Firm
Morgan Stanley (MS)’s Jeanmarie McFadden, the global head of corporate affairs, is retiring from the Wall Street firm.
McFadden’s duties included overseeing media relations, marketing and community affairs, according to an internal memo from Chief Executive Officer James Gorman and obtained today by Bloomberg News. Wesley McDade, deputy head of corporate affairs at the New York-based bank, will become acting chief.
McFadden, 49, who was a member of the management committee, led Morgan Stanley’s corporate communications group since 2006 and served under former CEO John Mack, with whom she also worked at Credit Suisse Group AG (CSGN) before he returned to Morgan Stanley in 2005. She helped lead the firm’s public relations efforts as the company almost collapsed during the financial crisis and got a taxpayer bailout in 2008, which it repaid the next year.
“As global press coverage of our industry intensified in recent years, Jeanmarie’s instincts, relationships and news judgment made her a trusted adviser to senior management,” Gorman, 54, wrote in the memo.
The Wall Street Journal reported on McFadden’s departure earlier today.
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