From the Career Center: Private Equity Client Services At Morgan Stanley

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Morgan Stanley is looking for an associate in its financial sponsors group, the unit of the bank that caters to private equity clients. Just a few years ago, Morgan Stanley spun off its private equity arm in an attempt to eliminate conflicts with clients of its other businesses. At the time it was feared that private equity clients were withholding business because they were upset that Morgan Stanley’s in-house private equity business was bidding against them. Spinning off private equity was supposed to help MS’s other divisions, especially the financial sponsors group.
So much for that idea. It only took two years and the biggest p.e. boom in decades to persuade the bank that those client conflicts weren’t really such a big deal after all. Last September, Morgan Stanley announced that it was roaring back into the business, putting Morgan Stanley vet Alan Jones and Goldman Sachs hotshot Stephen Trevor at the head of the group. (Note: if you want to know how to make ‘conflicts of interest’ vanish, hire someone from Goldman.)
So does this mean that clients will be boycotting Morgan Stanley? If you answered yes, you clearly aren’t cut out for the job with the financial sponsors group that you’ll find today in the DealBreaker Career Center. Ever since John Mack became chief executive, the official line is that in-house private equity doesn’t compete with clients. It compliments them by allowing the bank to go into deals as co-investors alongside clients.
Get that straight. Old thinking: in-house private equity conflicts with client interests. New thinking: in-house private equity compliments client interests. Now get yourself over to the DealBreaker Career Center, polish up your resume, and land yourself a job in Morgan Stanley’s financial sponsors group.
Also wanted in the DealBreaker Career Center: entry level traders for emerging markets and equities derivatives, quants with foreign exchange or fixed income experience, and much more. Browse around and find yourself a better job. Maybe you can’t ever leave finance but you can get yourself a better job.

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