Morgan Stanley Hires Ex-SAC Capital Artificial Intelligence Expert - AdvisorHub

Kearns is a computer science professor at the University of Pennsylvania and has years of experience at Steve Cohen's former hedge fund and other Wall Street firms. He will lead Morgan Stanley's AI research and offer advice on deploying the technology for projects across the company, the New York-based firm said in a memo to employees Tuesday. Chief Executive Officer James Gorman has made new technologies a top priority at Morgan Stanley, an early mover in electronic stock trading. The bank is spending about $4 billion in an initiative that spans trading -- particularly in fixed income -- wealth management and other units. "Michael uniquely combines a distinguished career in academia and research with professional experience in the application of AI to complex business problems in financial services," the company said in the memo.