Hedge Funds

Morgan Stanley hires Joel Press


Joel Press has joined Morgan Stanley's prime brokerage group as a managing director.

A senior statesman of the hedge fund industry, Press served as head of Ernst & Young's global hedge fund practice from 1989 to 2006.

In the newly created position, Press said he will focus in part on client relationships and client service. He will also assist in identifying strategic opportunities for the business, reporting to Gerry Coughlin, head of global sales.

Following his mandatory retirement from E&Y in early 2006, Press worked with David Berkowitz to help him launch the hedge fund firm Festina Lente Investment