Byron Wien, chief investment strategist of Morgan Stanley, is set to join Pequot Capital Management, the hedge fund firm where Morgan Stanley chairman and chief executive John Mack recently resigned as chairman.

Wien, who is 72, spent 20 years at Morgan Stanley and is renowned for his annual list of 10 investment surprises. In 1999 he was voted as the most widely-read analyst in the world in an online poll by First Call, the research company.