By Liana B. Baker and Olivia Oran
April 12 Morgan Stanley's chief
compliance officer Billy Fenrich is leaving the firm just over a
year after being named to the position.
Fenrich will be replaced by Raul Yanes, according to an
internal Morgan Stanley memo reviewed by Reuters, which was
confirmed by a firm spokesman.
Fenrich is joining quantitative hedge fund AQR Capital
Management as its chief legal officer, according to an AQR
Yanes was most recently a litigation partner at the law firm
Davis Polk & Wardwell and had also served in a number of senior
positions under president George W. Bush, including staff
secretary and assistant to the president and senior counselor to
the attorney general.
Fenrich joined Morgan Stanley's legal department in 2014
from hedge fund PointState Capital. He was named chief
compliance officer in 2016, replacing longtime compliance chief
Stuart Breslow. He had also worked at Davis Polk.
Compliance officers have become critical figures on Wall
Street since the financial crisis, helping to ensure that
bankers and traders stay out of trouble and avoid massive fines.
(Reporting by Liana Baker and Olivia Oran in New York; Editing
by Tom Brown)