The New York-listed investment banking and wealth management firm has added the former member of the British Parliament to its ranks.

Alistair Darling, the former UK Chancellor of the Exchequer aka finance minister, has joined Morgan Stanley's board of directors.

Darling served in the UK government from 1997 to 2010 and in the British Parliament from 1987 to 2015. He was chancellor from 2007 to 2010, a role previously held by ex-Prime Minister Gordon Brown. 

His appointment to Morgan Stanley comes shortly after Brown joined the global advisory board of investment management firm PIMCO.

“He [Darling] brings strong leadership experience, as well as insight into both the global economy and the global financial system,” said James Gorman, chairman and chief executive of Morgan Stanley.

“As Chancellor of the Exchequer he played a central role in responding to the financial crisis. The board, our management and our shareholders will greatly benefit from his experience and perspective.”

In its recent third-quarter results, Morgan Stanley logged net revenues of $7.8 billion, compared with $8.9 billion a year ago. Its wealth management business reported pre-tax income from continuing operations of $824 million at end-September 2015, up from $800 million a year earlier.