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Morgan Stanley executive returns as vice chairman

NEW YORK (AP) -- A former executive at Morgan Stanley is returning to the investment bank to take on the role of vice chairman.

The firm said Tuesday that Thomas Nides will rejoin Morgan Stanley after serving as deputy secretary of state in President Obama's State Department. He was previously Morgan Stanley's chief operating officer and left for the State Department in 2010.

In his new role, he will report directly to James Gorman, the firm's chairman and CEO.

"We are excited to have Tom rejoin the management team this time focusing on the Firm's clients," Gorman said, in an announcement. "His deep experience over the past 25 years in government and financial services uniquely qualifies him to deliver the full capabilities of Morgan Stanley to our current and prospective clients globally."

Shares of the New York company added 8 cents to $22.11 in midday trading.