Patrick Muir, who was the UK marketing director of Egg, has been appointed vice-president and head of marketing for Morgan Stanley's consumer banking group.
This is the first time the company has hired someone to manage its marketing at such a senior level.
Morgan Stanley, which uses direct mail as its main marketing medium, has not advertised in the UK since February last year. However, the creation of a top UK-based marketing post signifies a return to advertising later this year.
When Muir joins on March 15, he will report to Morgan Stanley's UK managing director, Jeannine Farhi, who joined at the end of last year. She replaced Harit Talwar, who returned to the US.
Muir will work closely with Farhi in raising awareness of the brand.
Morgan Stanley is well known in the UK as a merchant bank, but not as a consumer brand. Other US credit cards such as MBNA have a much greater awareness.
Muir will have responsibility for advertising, direct marketing and market research.
A Morgan Stanley spokeswoman confirmed it had a number of major projects lined up for 2004.
Most of Morgan Stanley's marketing budget is spent on direct mail to promote its credit card. The company is the UK's 13th biggest direct mailer, according to Nielsen Media Research (Marketing, February 26). It spent 拢17.1m on targeting UK consumers by post last year.
Muir joined Egg in 1997 and was one of the team responsible for developing its market position and acquisition strategy.
Before that he was a marketer at Lombard Bank. Egg's owner Prudential is looking for a buyer for its controlling 79% stake of the business.
Lloyds TSB and RBS are the favourites to win control of the bank.
Morgan Stanley's consumer advertising is handled internationally by Leo Burnett. Traditionally the account has been led out of the network's Chicago office.
However, it is likely Leo Burnett's London office will take a more active role following Muir's appointment.