Morgan Stanley has announced in a press release that Alistair Darling, a former member of the British Parliament, has been elected to the Company's board of directors.
His appointment follows former U.K. Prime Minister Gordon Brown's appointment to PIMCO's Global Advisory Board.
Bloomberg said that in naming Darling, who was Chancellor of the Exchequer from 2007 to 2010, Morgan Stanley has added a politician who orchestrated the bailouts of Britain's largest banks during the financial crisis.
The bailouts include the £45.5 billion, or $68 billion, rescue of Royal Bank of Scotland Group Plc, the largest state intervention to save a lender in history.
James Gorman, the chairman and CEO of Morgan Stanley, said in the press release that Darling brings "strong leadership experience" to the company's board.
"As Chancellor of the Exchequer he played a central role in responding to the financial crisis," Gorman said. Darling also provides "insight into both the global economy and the global financial system."
James W. Owens, the chair of the board's Nominating and Governance Committee, adds that they extend a "warm welcome to Darling."
"We will all benefit from his financial, risk management and regulatory insights," he said.
Darling, 62, was a member of the British Parliament from 1987 until 2015.
He was also the Secretary of State for Trade and Industry from 2006 to 2007, the Secretary of State of Transport from 2002 to 2006, and the Secretary of State for Scotland from 2003 to 2006.
Darling also served as the Secretary of State for Social Security / Work & Pensions from 1998 to 2002, and Chief Secretary to the Treasury from 1997 to 1998.
Darling has graduated from the University of Aberdeen with a Bachelor of Laws.
Darling's appointment to Morgan Stanley's board of directors will be effective on January 1, 2016.
