Valeiras quits Morgan Stanley for Applegate CM

UK – Morgan Stanley Investment Management in London has announced that Horacio Valeiras, head of its global core equity team, has left the company to join San Diego-based Nicholas Applegate Capital Management as chief investment officer.

Valeiras became head of the global core equity team after relocating to London from New York four years ago. He spent a total of ten years at Morgan Stanley.

Morgan Stanley has appointed Kate Cornish-Bowden, who is already responsible for UK equity products, to take care of the global funds. Morgan Stanley has yet to decide whether this is a permanent appointment or whether it will recruit a replacement for Valeiras.

Moreover, the Amsterdam-based asset allocation team that used to report to Valeiras will now report directly to the New York-based core strategy team led by Cyril Moulle-Berteaux.

Morgan Stanley has €169bn under management.

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