Donald Aiken, the chair of the Institutional Money Market Funds Association (IMMFA), the trade body for triple-A-rated institutional money market funds, has joined Morgan Stanley Investment Management (MSIM). Aiken becomes head of distribution for MSIM’s non-US liquidity business and will mainly oversee business in Europe, Middle East and Africa (EMEA).
Aiken was formerly head of cash services at Scottish Widows Investment Partnership (SWIP). He joined SWIP in 1994 as one of three business executives responsible for the start-up of Scottish Widows Investment Bank.
Hester Borrie, managing director and head of sales for MSIM in EMEA, feels there are still plenty of opportunities to grow Morgan Stanley’s liquidity business. “There is tremendous opportunity to extend our liquidity solutions to both clients of Morgan Stanley as well as corporations, insurance companies and others around the world,” he says. “Donald brings more than 30 years of experience, which, combined with his current role as chair of IMMFA, will serve as a tremendous asset as we seek to deliver our liquidity business to a larger universe of clients going forward.”
MSIM has been providing liquidity products to clients since 1975. It now manages $97 billion in money market mandates (as of 30 September 2007). “Offering cash management products through liquidity and enhanced yield funds is an integral component of a well diversified asset management strategy,” said Jim Dilworth, managing director and chief executive officer of MSIM, EMEA. “MSIM plans to significantly expand its money market business in Europe and Donald brings a wealth of money market knowledge to MSIM EMEA.”
© fe February 2008