Reported By Yaël Bizouati January 4, 2011

A long-time Morgan Stanley Investment Management executive has rejoined some fellow MSIM veterans and will lead the distribution efforts for a firm that recently spun out of Invesco. Steve Figliozzi has joined Affinity Investment Advisors as director of marketing and distribution, the firm announced late last month.

Affinity is a large-cap equity manager that had been part of MSIM but moved to Invesco when that firm bought most of MSIM’s retail business last year. Affinity spun itself out of Invesco in November.

Figliozzi spent 17 years at Morgan Stanley, most recently as director of separately managed accounts. He too moved to Invesco in the acquisition, but officially left that firm on June 1, the same day he joined, he says. At Affinity, Figliozzi will spearhead distribution into the institutional and high-net-worth markets.

“This is our first step as we build out our team to better service our clients,” says Gregory Lai, managing partner at Affinity. “We’re looking to add people with the same background, integrity and the same mindset that we have and since we worked with Steve, it’s the perfect fit. He knows a lot of clients, and is familiar with the team and the products.”

Asked whether the firm would make additional hires of MSIM veterans, Lai says that while the firm “has a history of getting good people and building good business,” at the moment, no further hires are planned as the firm focuses on servicing its clients.

Since leaving Invesco in June, Figliozzi did some consulting work and took some time off, he says.

Irvine, Calif.-based Affinity manages $700 million in assets and has 300 accounts. Lai declines to comment on the number of accounts that came from MSIM/Invesco.

Lai founded Affinity as an independent firm in 1992; MSIM acquired it in 2007.