Wall Street brokerage firm Morgan Stanley is aiming to tackle its strategic challenges by hiring a former regulator as its chief legal officer and putting another executive on the strategy beat.

The firm’s new chairman and CEO, John Mack announced that Gary Lynch has been named chief legal officer and a member of the firm’s management committee, effective October 18. He will report directly to Mack. The firm’s existing chief counsel will retire, as previously announced.

“Gary has a proven track record of building a strong compliance culture and working effectively to resolve complex regulatory and litigation issues. As a former head of the SEC’s Enforcement Division, he had a distinguished career in public service, and he has extensive experience in both the financial and legal sectors, as well. As we work to uphold the highest standards of professional conduct and build effective relationships with all of our regulators and other key stakeholders worldwide, Gary will play a critical role at the firm,” Mack said.

Also, Morgan Stanley said that David Heleniak, who joined in May as vice chairman, managing director and member of the firm’s management committee, will focus on key strategic issues and on its investment banking business. The firm’s legal department will also report to Heleniak until Lynch joins.

Lynch, 54, joined CSFB as global general counsel in October, 2001. In December 2002, he was named executive vice chairman and placed in charge of overseeing both the research and the compliance divisions. From 1985 to 1989, Lynch served as director of the Enforcement Division of the SEC. In 1989, he went into private practice.

Before moving to Morgan in May, Heleniak, 60, was senior partner at law firm Shearman & Sterling.