It isn’t very often that talent on one cable news channel breaks news about talent at another cable news channel. But Fox Business Network’s Charlie Gasparino did just that this morning.
Gasparino, a former correspondent for CNBC, reported that his former colleague, CNBC’s capital markets editor Gary Kaminsky would be leaving the cable news channel to join Morgan Stanley as vice chair of its brokerage unit. He hedged his wording a bit, noting that talks were ongoing and it was “not a done deal,” but the message was clear:
Update: It’s official, Morgan Stanley’s internal announcement, below.
March 11, 2013
To: U.S. Morgan Stanley Wealth Management Employees
From: Gregory Fleming
Subject: A Message Regarding Gary Kaminsky
I am pleased to announce that Gary Kaminsky will join Morgan Stanley Wealth Management in April as Vice Chairman, Wealth Management. In this new role, Gary will work with Financial Advisors and their teams on client development and strategies to deliver the full resources of Morgan Stanley for the benefit of clients.
Gary is widely known to CNBC viewers as that network’s Capital Markets Editor, a position he has held since 2010. Prior to that, he spent two decades as a successful money manager, having been a portfolio manager and partner at Cowen & Company from 1992-1999. He then joined Neuberger Berman, where he and his team built an investment portfolio of over $12 billion prior to his retirement from that firm in 2008.
As an author and commentator, Gary speaks frequently on investor trends and asset management strategies, and he will continue to be a contributor to CNBC. Gary will be a valuable resource to FAs as they seek to grow, develop and manage their practices.
Please join me in welcoming Gary to Morgan Stanley and wishing him success in his new role.