SEC Commissioner Cynthia Glassman announced her intention to leave the commission once a successor is confirmed by the Senate. Her current term officially ends on June 5. Glassman, who joined the SEC in January 2002, voted against many of the most controversial mutual fund and hedge fund rules.
The NASD promoted three executives as part of a larger leadership transition that includes Mary Shapiro's already-announced move to CEO at year's end. Douglas Shulman has been named vice chairman; Stephen Luparello has been promoted to senior executive vice president; and Elisse Walter has been promoted to senior executive vice president.
Stuart Bohart has been named head of alternative investments at Morgan Stanley Investment Management. Bohart previously served as managing director of the firm's prime brokerage unit.
Holly Ruxin, Steven Wong and Lauri Rousseau have joined Morgan Stanley Private Wealth Management in San Francisco. The team, previously at Bank of America, has about $2.3 million in production and $400 million in assets under management.
Morgan Stanley has picked up Marvin Griffin, a former Smith Barney advisor with over $85 million in assets under management.