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MORGAN STANLEY ESTABLISHES GLOBAL RISK MANAGEMENT FUNCTION

 NEW YORK, Nov. 16 ~PRNewswire~ -- Morgan Stanley Group Inc. (NYSE: MS) is establishing a global risk management function that will centralize oversight of all risks associated with Morgan Stanley's worldwide array of products, services and trading activities.
 Robert B. Feduniak will assume full-time responsibility for the new Global Risk Management Group, which will coordinate and oversee all existing divisional, geographic, and product-line risk management activities. Mr. Feduniak, a managing director who joined the firm in 1982, now heads Morgan Stanley's Worldwide Finance, Administration and Operations (FA&O) division.
 "As Morgan Stanley's lines of business become increasingly global, complex and interrelated, we believe it is prudent to look at all of the firm's activities as one portfolio that must be appropriately monitored and managed on a real-time basis," said Richard B. Fisher, chairman of Morgan Stanley." Our existing risk management process is strong and has worked well over the years, but we must stay ahead of the curve as Morgan Stanley grows and the markets evolve," he added.
 The Global Risk Management Group will establish firmwide limits for various types of exposure, evaluate new products from a risk assessment and control adequacy perspective, assess pricing and valuation models, monitor capital allocation with a focus on risk~reward considerations, and ensure a thorough understanding of the full range of risks, with particular emphasis on long-dated derivative and counterparty exposures.
 Responsibility for the FA&O Division will be assumed by W. Carter McClelland, a managing director who is currently head of the worldwide Corporate Finance Department. In his new position, he will be responsible for the following functions: operations, treasury, controllers, tax, human resources, information services, facilities and general services.
 Mr. McClelland, who joined the firm in 1973, will also oversee a newly formed Marketing Group which will coordinate cross-selling, firmwide client coverage, training, media and investor relations, and integration of the firm's strategic plan. "We are fortunate that Carter's extensive operating experience will be focused on these critical administrative functions and that he will lead an important new effort to coordinate the firm's marketing and communications activities," said Robert F. Greenhill, Morgan Stanley's president.
 Responsibility for the Corporate Finance Department will be assumed by Robert G. Scott, currently head of the worldwide Capital Markets Services Department. Mr. Scott is a managing director who joined the firm in 1970. Mr. Scott's current duties will be shared by William J. Kneisel, currently head of worldwide Equity Capital Markets, and managing director Patrick de Saint-Aignan, currently head of worldwide Debt Capital Markets.
 -0- 11~16~92
 ~CONTACT: Charles B. Hintz (investor), 212-703-7178, or Jeanne Donovan Andrews (media), 212-703-4058, both of Morgan Stanley~
 (MS)


CO: Morgan Stanley Group Inc. ST: New York IN: FIN SU: PDT

SH -- NY044 -- 1213 11~16~92 11:20 EST
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Publication:PR Newswire
Date:Nov 16, 1992
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