The International Monetary Fund (IMF) announced on Wednesday that Reza Moghadam, the director of the organization's Europe division, has submitted his resignation.
Moghadam will assume his position as vice chairman of global capital markets at Morgan Stanley in the fall, according to an IMF press release.
The IMF said that Moghadam, who was appointed director of the European department in 2011, has helped to shape some of the fund's most critical work in Europe in recent years.
"Reza led our engagement with European policymakers, was responsible for our lending operations in the Euro Area, and spearheaded the Fund's response from one crisis to the next--including the most recent challenge in Ukraine," IMF Managing Director Christine Lagarde said. "I have highly valued the incredible energy and creativity that Reza has brought to every task--from his capacity for crisis management to his effectiveness as a communicator, his full-on management style and ability to attract and nurture talent."
Before heading the European department, Moghadam served as director of strategy, policy and review at the IMF beginning in 2008.
"Leaving the Fund has not been an easy decision, and I go with a heavy heart," Moghadam said. "It has been an honor and a pleasure to work with such very talented colleagues for the past 22 years--staff, management and the executive board. It has also been a privilege to work with committed policymakers across the globe. But I look forward to a new chapter in my life and a new career, and to being back home in the U.K. with my family."
Poul Thomsen has been appointed acting director of the European department while the IMF carries out a search for Moghadam's successor.
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