[Photo:  Bloomberg]

Greg Fleming, who once was widely viewed as a possible successor to MS CEO James Gorman, has joined asset management firm Axiom Capital Management. He will serve as a consultant on a part-time basis. The NY-based firm provides investment banking, trading and asset management services for high net worth individual, companies and large investors.

Since Morgan Stanley announced his departure over a year ago, Fleming's future has been a curiosity among his former colleagues. Fleming, 53, had joined the bank in 2010 after a career at Merrill Lynch, where he handled its efforts to survive during the financial crisis. He eventually ran Morgan Stanley's wealth and investment management businesses. But he left after being passed over for the CEO job.

Since departing, Fleming has been teaching at Yale Law School and considering various options, including launching his own firm that would perform merchant banking deals and advise clients on acquisitions. He joined the board of Putnam Investments last August. He recently helped hedge fund manager Anthony Scaramucci, who’s joining the Trump administration, with the sale of his fund-of-fund firm, SkyBridge.