Morgan Stanley hires ex-Capital Trust co-founder

Morgan Stanley has hired former Capital Trust co-founder Klopp to lead the firm’s Americas real estate investing team.

Klopp has been named head of Americas real estate investing and global real estate debt investing, reporting directly to chief investment officer Jay Mantz, the bank said in a statement.

Klopp was previously chief executive officer at listed-investment firm Capital Trust, which he founded with Sam Zell and Craig Hatkoff in 1997. He was previously a founder and managing partner in the merchant banking boutique Victor Capital Group. Klopp will start on 1 February. 

Owen Thomas, chief executive officer and chairman of Morgan Stanley Real Estate Investing, and Mantz took over the roles of running the property investment group after former global head Sonny Kalsi was placed on administration leave last February. Kalsi, who was placed on leave amid allegations an employee in Shanghai violated the US Foreign Corrupt Practices Act, formally left the bank in November when an internal investigation found no evidence he had “caused or authorised” the alleged misuse of assets.

In Kalsi’s place, Thomas, also head of Morgan Stanley Asia, took on the additional role of chairman and CEO of MSREI while Mantz, who was co-head of merchant banking, became president and CIO of the division. Mantz previously ran property investing from 2000 to 2005.

Klopp said in the statement: “With unparalleled global resources, multiple products and a highly experienced team in place, I look forward to partnering with this team to build on the firm's achievements and capitalise on what we believe are significant opportunities ahead.”