Jim Flaum Retires After 32 Years Leading Morgan Stanley’s CRE Lending

Jim Flaum has put a cap on a more than three-decade career spearheading lending efforts at Morgan Stanley.

Flaum, who spent the past 32 years at Morgan Stanley, including serving as global head of commercial real estate finance from 2014 to 2025, retired in early March, Commercial Observer has learned. The move came a year after Flaum was appointed to a newly created role as chairman of CRE finance with Kwasi Benneh taking over his leadership post.

“I had an incredible 32-year run at Morgan Stanley: from starting and building a best-in-class global commercial real estate lending business to navigating multiple market cycles and delivering innovative solutions,” Flaum said in a statement. 

“As I start my next chapter, I will always look back most fondly on the relationships I developed over the years with my colleagues and clients,” Flaum continued. “I’m proud to have been part of a firm that cares about its culture, people and doing the right thing, which in turn allowed me to drive the best outcomes for our clients.” 

Benneh and Flaum worked as a formidable CRE finance team at Morgan Stanley for more than 20 years and were regulars on Commercial Observer’s Power Finance 50 list. The duo executed $16.4 billion of U.S. originations in 2024 and $19.5 billion globally.

“His commitment to finding solutions for clients and his mentorship of countless colleagues set a high bar in our industry,”  said Benneh, who was previously head of North America CRE lending at Morgan Stanley prior to ascending to Flaum’s role. “While I will miss our close collaboration, I’m thrilled for Jim and excited for his next chapter.” 

Andrew Coen can be reached at acoen@commercialobserver.com.