Morgan Stanley Treasurer Celeste Mellet Brown to Leave for Fannie Mae, Sources Say--Update
April 20 2017 - 02:34PM
Dow Jones News
By Liz Hoffman
Morgan Stanley Treasurer Celeste Mellet Brown is leaving after
17 years at the firm to become deputy chief financial officer at
Fannie Mae, according to people familiar with the matter.
Ms. Brown, who will be taking the new job in June, will
succeeded by John Ryan, a finance executive who has worked over the
years in Morgan Stanley's trading division and its private bank,
the people said.
One of the more senior women at Morgan Stanley, Ms. Brown began
her career at the Wall Street firm in equity research, covering
hotels and casinos. She became head of investor relations after the
financial crisis, a role she held until being named treasurer in
2014.
Ms. Brown joins Fannie Mae amid a debate over the fate of the
mortgage giant and its cousin, Freddie Mac, which own or insure
trillions of dollars worth of home loans. Fannie's upper ranks are
heavy on Wall Street alumni: CEO Tim Mayopoulos is a former Bank of
America general counsel; and CFO David Benson is an ex-Merrill
Lynch trader.
Mr. Ryan joined Morgan Stanley in 2004 in the securities
division, where he worked in fixed-income financing, and joined the
corporate finance group as assistant treasurer in 2011.
More recently, he has had senior roles with Morgan Stanley's two
banking subsidiaries, through which the firm since the financial
crisis has been trying to gather deposits and make loans.
The treasurer job reports to Morgan Stanley Chief Financial
Officer Jonathan Pruzan.
Write to Liz Hoffman at liz.hoffman@wsj.com
(END) Dow Jones Newswires
April 20, 2017 14:19 ET (18:19 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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