Company Profile Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments and individuals from more than 1,200 offices in 43 countries.
As a market leader, the talent and passion of our people is critical to our success. Together, we share a common set of values rooted in integrity, excellence and strong team ethic. Morgan Stanley can provide a superior foundation for building a professional career - a place for people to learn, to achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.
Department Profile The EMEA Legal and Compliance Department is charged with day-to-day oversight and coordination of the Firm's compliance with core regulatory requirements covering all businesses including Institutional Sales and Trading (fixed income, commodities, equities), Investment Banking, Research Investment Management and Private Wealth Management Business across the EMEA region.
Team Profile There is a vacancy within the Morgan Stanley EMEA Legal and Compliance Division for a qualified lawyer to provide legal coverage for the Investment Management division (IM) of Morgan Stanley.
IM is a global asset management business offering a full range of investment solutions across all asset classes to institutional clients.
IM businesses offer bespoke and pooled investment solutions to clients through segregated accounts and pooled funds. Within EMEA, IM manages equity, fixed income and money market strategies, and operates pooled fund ranges in EMEA, including UCITS and non-UCITS umbrellas, domiciled in jurisdictions including Luxembourg, Dublin and the UK.
IM products are distributed globally to institutional clients by IM directly and also through a large intermediary distribution network.
IM's client base primarily consists of large institutions including sovereign wealth funds, government entities, pension funds and other corporates.
Primary Responsibilities The role will have a diversified focus on supporting institutional client take on, segregated accounts and counterparty relationships, fund formation and ongoing advisory coverage in respect of IM fund platforms (UCITS and AIFs), and in providing general regulatory advice to the IM business. The successful candidate will be expected to provide legal support to different areas of the business as dictated by work flow and resource within the team from time to time.
The role will include the following:
- advising on investment management agreements and associated documentation, working with internal colleagues to on board new clients and identifying and managing legal and reputational risk issues; - providing support to broker management and trading teams, including advising on broker relationships, dealing commissions and trading terms in respect of both segregated clients and pooled funds; - providing legal support in relation to derivatives business (OTC and cleared derivatives) and efficient portfolio management activities (stock lending and repos) in respect of both segregated clients and pooled funds; - assessing impact of new regulation to IM's business and contributing to advising IM business on structural changes (whether corporate or regulatory) and subsequent execution; - providing legal coverage for the IM funds described above and in advising, structuring and executing on new fund proposals; and - taking a lead role in working with portfolio management, product, sales, client service and fund administration teams, dealing with day to day queries regarding maintenance of the IM fund ranges, and legal and regulatory issues arising in respect of service providers (administrator, custodian, transfer agent) to the funds;
Skills required (essential)
- Professional maturity, confidence, presence and initiative - Good judgment and practical outlook in the application of law - Strong organizational skills - Aptitude for risk and controls
Areas of expertise in a combination (but not necessarily all) of the following areas are desirable:
- commercial contracts with clients, distributors, intermediaries or other agents within the asset management sector, in particular knowledge of investment management agreements etc; - a working knowledge of funds in general and fund governance (and UCITS and AIFMD in particular); - a working knowledge or prior experience of derivative trading documentation (e.g. ISDA/ CSA, clearing agreements, futures documentation), repo and stock lending arrangements; - affinity with financial services regulation (including understanding of current regulatory framework affecting trading and investments (e.g. MIFID2, EMIR)); and - PQE in a major law firm and/or in-house at a sell-side or buy-side financial institution.
Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximise their full potential. Our skilled and creative workforce is comprised of individuals drawn from a broad cross section of the global communities in which we operate and who reflect a variety of backgrounds, talents, perspectives and experiences. Our strong commitment to a culture of inclusion is evident through our constant focus on recruiting, developing and advancing individuals based on their skills and talents.*LI-FH1