Former Morgan Stanley ‘Wrap’ Executive Chad Graves Joins Nuveen
Chad Graves, a former senior executive in Morgan Stanley’s advisory group, has joined to help distribute the Chicago-based asset management firm’s equity funds.
Graves, who had been with Morgan Stanley and predecessor firms E.F. Hutton and Smith Barney since 1985, was a managing director in New York in charge of Unit Investment Trust sales when he left last March amid a management reshuffle. He worked in the Consulting Group, the securities industry’s biggest wrap-fee platform that Morgan Stanley CEO has called a crown jewel of the Smith Barney franchise that he purchased.
Reached at his new office, Graves declined to comment on his role at Nuveen, which was and operates as a separate subsidiary.
A Nuveen spokeswoman said he joined last week as head of portfolio advisory services, but declined to elaborate. Nuveen funds hold about $229.7 billion of client assets, including about $105.1 billion in retail mutual funds and separately managed accounts, the areas in which Graves specializes, according to the firm’s website.
The company, founded in 1898, is best known for its bond funds.
Morgan Stanley realigned its top retail brokerage ranks this year following the announcement in January that Greg Fleming was resigning as president of the business. Graves left days after Consulting Group cohead Jason Moore resigned to join asset manager Brinker Capital.
Graves began his securities industry career at E.F. Hutton in 1985.
“We wish Chad well in his new role,” said a Morgan Stanley spokeswoman.