Stephen Roach, Morgan Stanley's former chief economist and a well-known fixture on Wall Street, is retiring from the firm, according to a memo sent to employees on Thursday.

Since 2010, Roach has served as non-executive chairman of Morgan Stanley Asia and taught at Yale University. He is leaving to focus on his scholarly pursuits, Morgan Stanley Chief Executive James Gorman said in the memo.

As Morgan Stanley's chief economist, Roach published research on globalization, the emergence of China and India and other issues. He became Asia chairman in 2007 before shifting to his non-executive chairman role. He joined Morgan Stanley in 1982.

(Reporting By Rick Rothacker in Charlotte; Editing by Derek Caney)