Morgan Stanley executive Rich Portogallo to retire: memo

(Reuters) – Veteran Morgan Stanley (MS.N) executive Rich Portogallo, who played a key role in building the bank’s prime-brokerage business, is retiring, according to an internal memo seen by Reuters.

Currently, Portogallo is the bank’s global head of institutional equities, clients and services.

“There is no name more synonymous with the prime brokerage business at Morgan Stanley than Rich Portogallo,” said Ted Pick, the bank’s chief of trading and investment banking, in the memo.

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