Credit Suisse counsel in Morgan Stanley move

US investment banking giant Morgan Stanley has raided European rival Credit Suisse for its new legal chief.

Gary Lynch, who has served as global general counsel at Credit Suisse since October 2001, has been appointed as Morgan Stanley’s chief legal officer and a member of the bank’s management committee with effect from October.

Until Lynch takes the helm at Morgan Stanley, its legal department will report to vice-chairman David Heleniak, who joined the bank in May from the New York office of Shearman & Sterling.

Lynch will be succeeding Donald Kempf, who is due to retire from Morgan Stanley after leading the bank’s legal function since 1999.

Prior to joining Credit Suisse, Lynch was a partner at Davis Polk & Wardwell, and before that he served as a director in the Securities and Exchange Commission’s enforcement division.

In his new role, Lynch will report to Morgan Stanley’s chairman and chief executive officer John Mack.