Richard Portogallo to retire from Morgan Stanley 27 January 2020New York Reporter: Natalie Turner
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Morgan Stanley’s Richard Portogallo is set to hand over the reins of its prime brokerage business in March after 34 years with the bank.
Portogallo joined the bank in 1986, one year after its prime brokerage was created. He rose through the ranks to become managing director in 1994, before taking on his most recent role as global head of institutional equities clients and services.
Prior to Morgan Stanley, Portogallo worked at Dean Witter Reynolds before joining Morgan Stanley.
In an internal memo to staff, Morgan Stanley’s head of institutional securities, Ted Pick, commented that “when the firm looked to rebuild institutional equities after the crisis, Portogallo helped lead the resurgence of an integrated, client-focused franchise”.
Pick added that Morgan Stanley was grateful for Portogallo’s dedication and commitment to the equity division. “Rich’s retirement is both a cause for celebration and a meaningful loss for the many of us who seek out his wisdom and admire his singular style of humility and calm in the storm,” he wrote.
Morgan Stanley was unable to share details on who will take on Portogallo’s role.
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