Jan 23 Former Morgan Stanley executive
Greg Fleming has joined asset management firm Axiom Capital
Management, according to a regulatory filing, offering the first
hint of what his life after Wall Street might look like.
Fleming, who was once widely viewed as a possible successor
to Morgan Stanley Chief Executive Officer James Gorman, will
serve as a consultant on a part-time basis to Axiom. The New
York-based firm provides investment banking, trading and asset
management services for high net worth individual, companies and
large investors, a person familiar with the situation said.
He joined Axiom this year, according to his BrokerCheck
report with the Financial Industry Regulatory Authority.
Fleming is still in conversations with a number of companies
about a full-time role, said the source, who was not authorized
to speak publicly.
Fleming directed calls to a spokesman who declined to
comment about his plans.
A spokesman for Axiom did not immediately return a call for
Since Morgan Stanley announced his departure over a year
ago, Fleming’s future has been a curiosity among his former
The 53-year-old joined the bank in 2010 after a career at
Merrill Lynch, where he handled its efforts to survive during
the financial crisis. He eventually ran Morgan Stanley’s wealth
and investment management businesses.
He left after finding out he was unlikely to get the job.
Since departing, Fleming has been teaching at Yale Law
School and considering various options, including launching his
own firm that would perform merchant banking deals and advise
clients on acquisitions. He joined the board of Putnam
Investments last August.
Fleming had been in talks with private-equity firm
Blackstone Group LP about a potential role, although
those discussions are no longer active, two people familiar with
the talks told Reuters.
He also helped hedge fund manager Anthony Scaramucci, who is
joining the administration of President Donald Trump as an
adviser, to sell his firm SkyBridge Capital to RON Transatlantic
EG and an arm of Chinese aviation and tourism conglomerate HNA
With a dearth of openings at the top of major banks,
recruiters have said Fleming’s high-profile options might be
limited. Associates have said he rebuffed previous offers to be
considered as a candidate to run Barclays Plc or Bank
of New York Mellon Corp.
(Reporting by Olivia Oran in New York; Editing by Lauren Tara
LaCapra and Lisa Shumaker)