News / Business
Morgan Stanley (NYSE: MS) Names Carlyle's James Hance Jr. to Board of Directors
Morgan Stanley (NYSE: MS) named Carlyle Group executive James Hance, Jr. to its board of directors, according to reports on Monday.
Hance, 64, is a senior advisor at Carlyle and a former chairman of Carlyle Capital Corp. He previously worked at Bank of America Corp. (NYSE: BAC) for 18 years as Vice Chairman, Chief Financial Officer and board member. He was a partner at what was then PriceWaterhouse in the 1980s.
Hance, the former chairman of the board for Sprint Nextel Corp. (NYSE: S), is a director of Cousins Properties Inc. (NYSE: CUZ), Duke Energy Corporation (NYSE: DUK), and Rayonier Inc. (NYSE: RYN). He is a certified public accountant and earned a Bachelor's degree from
His appointment, which will be effective July 1, brings the number of board members to 13: Chairman and CEO John J. Mack, Roy J. Bostock, Erskine B. Bowles, Sir Howard J. Davies, Nobuyuki Hirano, C. Robert Kidder, Donald T. Nicolaisen, Charles H. Noski, Hutham S. Olayan, Charles E. Phillips, Jr., O. Griffith Sexton, and Dr. Laura D. Tyson.
Morgan Stanley stock shares fell $1.64, or 5.8 percent, to close at $26.63 Monday.
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