Just 24 hours after Gordon Brown was appointed to the Pimco advisory board, Morgan Stanley has announced Alistair Darling is joining its board.
Darling has followed in his sometime Labour party rival Brown's footsteps, and will formally take up his role on the board of directors at the bank on 1 January 2016.
James Gorman, chairman and chief executive of Morgan Stanley, said:
“I am very pleased to welcome Mr. Darling to our Board. He brings strong leadership experience, as well as insight into both the global economy and the global financial system. As Chancellor of the Exchequer he played a central role in responding to the financial crisis. The Board, our management and our shareholders will greatly benefit from his experience and perspective.”
James W. Owens, chair of the board’s nominating and governance committee, said: “We extend a warm welcome to Mr Darling as he joins our Board. We will all benefit from his financial, risk management and regulatory insights.”
Darling, 62, served as Chancellor under Gordon Brown from 2007 to 2010.