NBC Universal announced Wednesday that it has named former Morgan Stanley managing director Stuart J. Epstein as its new chief financial officer.
Epstein, who previously ran Morgan Stanley's Media and Communications Group, as well as its casino-gaming and education operations, will report to NBCU CEO Steve Burke and begin work in mid-October.
While at Morgan Stanley, Epstein served as strategic adviser to the Comcast Corp and played a key role in the merger with NBC Universal.
"I am very pleased that Stuary will be joining us as chief financial officer for NBC Universal," Burke said in a statement. "He is a smart, capable leader with a deep understanding of the media business. Hving known Steve for years, I am also certain that he will be a great cultural fit for NBCU."
Here's the full press release.
STUART J. EPSTEIN NAMED CHIEF FINANCIAL OFFICER, NBCUNIVERSAL
New York – September 7, 2011 – Stuart J. Epstein has been named Chief Financial Officer, NBCUniversal. He will report to Steve Burke, Chief Executive Officer, NBCUniversal when he joins the company in mid-October.
Previously, Epstein served as Managing Director of Morgan Stanley and Global Head of the Firm’s Media & Communications Group. He also had responsibility for the Casino Gaming and Education businesses.
While at Morgan Stanley, Epstein served as a longtime strategic advisor to the Comcast Corporation including playing a key role in the formation of the $37.5 billion joint venture with GE to create NBCUniversal.
“I am very pleased that Stuart will be joining us as Chief Financial Officer for NBCUniversal,” said Burke. “He is a smart, capable leader with a deep understanding of the media business. Having known Stuart for years, I am also certain that he will be a great cultural fit for NBCU.”
Epstein joined Morgan Stanley in 1984 as a Financial Analyst in the Mergers & Acquisitions Department in New York. After earning his MBA, he returned to the Firm and served in a variety of positions in both New York and London in the Real Estate, Corporate Finance and M&A Departments. In 1993, while in London, Epstein assumed formal coverage responsibility for Morgan Stanley’s Media clients in the United Kingdom and throughout Europe. Early in 1996, he returned to New York with a principal focus on executing M&A transactions for Media companies. In 2005, he became Head of the North American Media practice, in 2006 was named Co-Head of the Global Media & Communications Group, and became Global Head of the group in March of 2008.
Epstein received his bachelor of science degree from the University of Pennsylvania’s Wharton School and his M.B.A. from the Graduate School of Business at Stanford University.