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Morgan Stanley COO May Join State Dept.

Wall Street and D.C. power player Tom Nides may join the Obama administration.
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Morgan Stanley

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COO Tom Nides may be headed to the State Department, according to several reports.

The job would be to succeed Jacob Lew as deputy secretary of state for management and resources. According to the

Financial Times

, Lew, who is Barack Obama's choice to lead the Office of Management and Budget, has been a key administrative player behind the Afghanistan war effort.

Nides has been a close advisor to Morgan Stanley Chairman John Mack, both at Morgan Stanley and when Mack led

Credit Suisse

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. When James Gorman took over the CEO post from Mack at the start of this year, he gave Nides additional responsibilities, promoting him from CAO to COO, with responsibility for "firmwide operations and technology," according to a press release from December announcing Gorman's new management roster.

Nides, 49, has worn several high-powered hats during his career. He is currently chairman of one of Wall Street's main lobbying groups, the Securities Industry and Financial Markets Association. He was also CEO and President of PR firm Burson-Marsteller for a few months in 2004-2005 and has been a longtime Clinton supporter

The Washington Post

first reported

on the talks involving Nides' possible job change.

Calls to Nides were not returned and spokesman for Morgan Stanley and the State Department declined comment.


Written by Dan Freed in New York


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