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Morgan Stanley hands job to former UK finance chief

[LONDON] US banking giant Morgan Stanley on Wednesday said it had appointed former British finance minister Alistair Darling, who steered Britain through the financial crisis, to its board of directors.

Darling, 62, who served as finance chief in ex-prime minister Gordon Brown's Labour government from 2007 to 2010, will start work at Morgan Stanley on January 1.

The news comes one day after it was revealed that Gordon Brown, who won plaudits for his role during the 2008 global financial risis, had taken on a job at global investment firm Pimco, where he will advise on economic and political issues.

"I am very pleased to welcome Mr Darling to our board," said James Gorman, chairman and CEO of Morgan Stanley, in a company statement.

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"He brings strong leadership experience, as well as insight into both the global economy and the global financial system.

"As chancellor of the exchequer, he played a central role in responding to the financial crisis. The board, our management and our shareholders will greatly benefit from his experience and perspective."