Gary Kaminsky Returns to Wall Street to "Break Some Glass"
In his first interview after announcing his new gig at Morgan Stanley (NYSE: MS), Gary Kaminsky tells Benzinga why he decided to return to Wall Street.
"I want to, much like I did at CNBC, break some glass," said Kaminsky, who will become the Vice Chairman of Morgan Stanley's Wealth Management division early next month. "I want to help clients and wealth advisors look at things in new ways, regain some trust, and most importantly, help this great group of advisors that are there with some of the experiences I've had. I want to bring some of that wisdom to the wealth management team."
Prior to becoming the Capital Markets Editor of CNBC, Kaminsky had become one of the most successful money managers on Wall Street.
- As a Portfolio Manager at Cowen & Company, he co-advised assets that rose from $200 million in 1992 to $1.3 billion in 1999.
- After joining Neuberger Berman in 1999, 'Team Kaminsky' grew from approximately $2 billion under management to more than $12 billion by the time he retired in June 2008.
- Kaminsky was also one of the original guest hosts of 'Squawk Box.'
Kaminsky credits Gregory Fleming, the President of the Global Wealth Management Group at Morgan Stanley, for his return to Wall Street.
"For me, as an investor, it's always been about people," Kaminsky told Benzinga. "And for jobs, for me it has always been about people. Greg Fleming is the reason why I'm there [at Morgan Stanley]."
When he starts his new role as the Vice Chairman of Wealth Management next month, Kaminsky said that his plan is to draw from his many years of experience.
"I'll be working with the whole institution across the entire expansion of wealth management and investment banking and capital markets to try and help the firm in any way I can to execute their game plan," he said.
While Kaminsky will no longer work for CNBC full time, he said that he will stay on as a contributor.
"I'm just gonna basically go back to the role I had played at CNBC up to 2008," he said. "I'll probably guest host 'Squawk Box' and I'll be available to the network on various occasions when it makes sense. But I'm working for Morgan Stanley. My responsibility will be to Morgan Stanley and its clients."
Louis Bedigian is the Senior Tech Analyst and Features Writer of Benzinga. You can reach him at 248-636-1322 or firstname.lastname@example.org. Follow him @LouisBedigianBZ
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