Morgan Stanley has made Owen Thomas’ interim promotion permanent. The Wall Street brokerage firm had tapped Thomas as interim chief for its asset management division in September after John Mack’s return last June.

On Friday, the company said that Thomas, who is 44 years old, will take the position of president of its investment management division on a permanent basis. He reports to Zoe Cruz, Morgan Stanley’s acting president.

"Owen has in a short period of time provided strong leadership for the business, made important progress in beginning to implement the changes necessary to improve growth, and earned the enthusiastic support of the division's employees," Mack said in a statement. 

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