Morgan Stanley Compliance Chief Fenrich Leaving for Hedge Fund

(Reuters) Morgan Stanley’s chief compliance officer Billy Fenrich is leaving the firm just over a year after being named to the position. Fenrich will be replaced by Raul Yanes, according to an internal Morgan Stanley memo reviewed by Reuters, which was confirmed by a firm spokesman. Fenrich is joining quantitative hedge fund AQR Capital Management as its chief legal officer, according to an AQR spokeswoman.

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