Morgan Stanley just hired a doctor, here's why

Morgan Stanley just added an inaugural role to its payroll: chief medical officer.

The investment bank announced it has hired David Stark, MD, an assistant professor from the New York City-based Icahn School of Medicine at Mount Sinai to serve as the company’s first CMO and head of human resources data and analytics.

The news was first reported by Business Insider but later confirmed by a company spokesperson, who added the addition is to “foster innovation in employee wellness and healthcare coverage.”

Jeff Brodsky, chief human resources officer, said, “Harnessing our HR data, we can achieve better wellness for our employees and address rising healthcare costs. Dave brings to the table a highly unique background and proven track record of success in developing analytical frameworks and finding data driven insights that will help us in both healthcare and across our talent related decisions.”

Stark, who earned his medical degree from Harvard Medical School and his master’s in biomedical informatics from Stanford University, was instrumental in creating a futuristic clinic at Mount Sinai called Lab100. The hybrid clinic and research lab leverages both data and technology to rethink the way health is measured and delivered.

In a statement, Stark said he plans to work on innovating new solutions and find synergies between employee health and work.