UPDATE 1-Morgan Stanley private equity co-head to resign

* Steve Trevor’s departure latest move in investment unit

* Trevor co-headed private equity with Alan Jones

By Steve Eder

NEW YORK, July 12 (BestGrowthStock) – Steve Trevor is resigning as
co-head of Morgan Stanley’s (MS.N: ) private equity division, the
latest change as the Wall Street firm overhauls its investment
management unit.

Morgan Stanley Investment Management chief Gregory Fleming
announced Trevor’s departure in an internal memo obtained by
Reuters on Monday.

Trevor joined Morgan Stanley in 2007 and planned to build a
large private equity business. But the firm’s investment
management section was battered by losses during the financial
crisis, causing the firm to retool its its private equity
business.

The firm has since installed a new leadership team led by
Fleming, a former Merrill Lynch president and chief operating
officer.

Trevor led Morgan Stanley’s private equity business along
with Alan Jones, who will continue in his role. Trevor also was
co-head of Morgan Stanley merchant banking and previously was
co-head of Morgan Stanley Investment Management.

Trevor’s departure is the latest in a series of personnel
moves in Morgan Stanley’s reshaped investment management unit.

Stu Bohart, who was the head of Morgan Stanley Investment
Management’s core business, recently decided to leave the firm,
according to a person familiar with the matter. Bohart
previously co-headed Morgan Stanley Investment Management.

Navtej Nandra was recently hired as head Morgan Stanley
Investment Management International. Nandra was head of
diversified financial services and the chief operating officer
of Merrill Lynch’s Global Wealth Management division.

Morgan Stanley declined to comment.
(Reporting by Steve Eder; editing by Andre Grenon)

UPDATE 1-Morgan Stanley private equity co-head to resign