Wall Street exec to be NYC finance chief

NEW YORK — Mayor Michael Bloomberg is tapping a Morgan Stanley executive to be his new finance commissioner.

The previous commissioner resigned in April. The mayor ordered an investigation into her romantic relationship with a former subordinate and allegations that she employed relatives and was paid for outside work.

Bloomberg announced Wednesday that David Frankel will take the job. Frankel most recently served as a managing director at the financial services firm.

Frankel previously worked at AIG Trading Group as a senior vice president. He also worked in the administrations of mayors David Dinkins and Ed Koch.