Goldman hires Morgan Stanley veteran Michael Wise: report

By IBTimes Staff Reporter | August 10 2010 7:00 AM

Goldman Sachs Group Inc has hired Michael Wise, a Morgan Stanley veteran, to run its financial institutions group, the Wall Street Journal said.

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Wise has worked at Morgan Stanley for 13 years and was most recently the chairman of its equity capital-markets division and a co-head of equity capital markets in the Americas, the business daily said.

Financial institutions group is a part of Goldman's equity capital markets group, Wall Street said.

Michael Wise, who will also become a Goldman partner, succeeds Stuart Bernstein, who is moving to the New York-based company's investment-banking group to head its clean technology and renewable-energy companies group, the paper said.

Goldman Sachs could not immediately be reached for comment by Reuters outside regular U.S. business hours.

(Reporting by Archana Shankar in Bangalore; Editing by Erica Billingham)