Private Equity Professionals

Morgan Stanley loses private equity co-head

The resignation of Steve Trevor follows a series of hires since the firm appointed a new president in February.

By
Graham Winfrey
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The resignation of Steve Trevor follows a series of hires since the firm appointed a new president in February.

Steve Trevor, co-head of Morgan Stanley Private Equity, has resigned. At Morgan Stanley, Trevor oversaw a global fund, a series of Asia funds, and a credit fund, a spokesperson told PEO.

There is no replacement for Trevor. The heads of those funds will be responsible for running them individually.

Steve Trevor
Trevor’s fellow co-head, Alan Jones, will continue to run the private equity division, which had built upon the foundations left by Morgan’s previous in-house buyout group that was spun out under previous CEO Philip Purcell.

Trevor was recruited from Goldman Sachs in 2007 to co-head Morgan Stanley’s private equity division, and had also served as co-head of Morgan Stanley Investment Management.

Trevor’s departure comes following a significant overhaul of the firm’s investment management unit. Morgan's President of asset management Gregory Fleming, who was appointed in February and who previously served as president and chief operating officer at Merrill Lynch, has made several new hires since his arrival, including a new global COO, a global head of sales and a global head of fixed income.