Hultquist Plans Partial Retirement From Morgan Stanley In New York

NON-BANKS

Timothy Hultquist, who started Morgan Stanley's foreign exchange division when he joined in 1982 and belongs to the Federal Reserve Bank's Foreign Exchange Committee, is retiring from Morgan Stanley & Co. as a managing director, he confirms. Hultquist, aged 44, will become a part-time advisory director to the investment bank.

Hultquist is leaving Morgan Stanley to chair the Board of Trustees at Macalester College in St. Paul, Minnesota, where he has been vice chairman for the past two years

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