James H. Hance Jr. will join Morgan Stanley's board next month.

Hance, who retired as Bank of America Corp.'s chief financial officer in 2005 and is now a senior advisor at Carlyle Group, will join Morgan Stanley's board in July, the New York company announced Monday.

John J. Mack, Morgan Stanley's chairman and chief executive officer, said in a press release: "We continue to add deep financial-services experience to our board, which is critically important as we navigate a new financial landscape. Jim...will be a great asset to our franchise."

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.