Morgan Stanley & Co.’s chief U.S. investment strategist and managing director, Henry McVey, is leaving the Wall Street giant for an alternative asset manager.

Fortress Investment Group LLC announced today that McVey has agreed to join the firm in its New York office as a managing director leading Fortress’s new business efforts focused on deep value public equity investing. McVey was previously a managing director at Morgan Stanley, where he spent 12 years in the equity research department.

Fortress is a global alternative asset manager with approximately US$36 billion in assets under management as of March 31. It raises, invests and manages private equity funds, hedge funds and publicly traded alternative investment vehicles. Fortress was founded in 1998.

Wesley Edens, chief executive officer and chairman of Fortress, commented, “Henry is a very talented individual and recognized as a leading investment strategist. We are excited that Henry will join Fortress and believe that he will be a great addition as we continue to build our equity investment products.”