NEW YORK — Morgan Stanley has hired former Federal Reserve economist Vincent Reinhart as chief U.S. economist, according to an internal memo obtained Tuesday by Dow Jones Newswires.
Reinhart will join the Wall Street firm Oct. 1, said the memo.
Sandra Hernandez, a spokeswoman at Morgan Stanley, confirmed the content of the memo but declined to comment further.
Reinhart joins Morgan Stanley from the American Enterprise Institute in Washington. From 1990 to 2007, he held senior positions at the Fed, including secretary and economist of the Federal Open Market Committee.
The hire filled a void after Richard Berner, former U.S. chief economist at Morgan Stanley, left the Wall Street firm earlier this year to pursue other opportunities.
Berner, who held that position for 11 years and who for three years was co-head of the global economics team at Morgan Stanley, joined the U.S. Treasury in April as a counselor to Treasury Secretary Timothy Geithner.