Zumwinkel

$32.4 billion Morgan Stanley recently announced that Dr. Klaus Zumwinkel, chairman of the board of management of $49 billion Deutsche Post AG, has been elected to its board. Zumwinkel, who has headed Europe's largest postal provider for over a decade, replaces Edward Brennan, who resigned from Morgan Stanley's board last year after being named executive chairman of American Airlines parent AMR Corp.

Morgan Stanley also announced that London School of Economics director Sir Howard Davies was nominated to serve on the board. Davies, who was previously chairman and CEO of the UK-based Financial Services Authority, will face a vote at the 2004 annual stockholders meeting in April. If elected, he would replace former SmithKline Beecham (now GlaxoSmithKline) CEO Robert Bauman, who has reached Morgan Stanley's mandatory retirement age for directors.