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(Reuters) – Morgan Stanley (MS.N) has appointed Robert Herz, a former chairman of the Financial Accounting Standards Board (FASB), to its board of directors and made some changes to its board committees.

The appointment of Herz, a former partner of accounting firm PricewaterhouseCoopers PWC.UL, is effective July 2.

The investment bank’s board also changed the leadership of its nominating and governance committee, replacing Laura Tyson with James Owens as chairman. Klaus Kleinfeld, a relatively new director, was also added to that group. Kleinfeld joined the board in May to replace outgoing board member James Hance.

Other committee changes related to the departure of Hance, who had served on the audit, risk and operations and technology committees. Herz joined the audit committee, while Owens and Tyson were added to the risk committee. O. Griffith Sexton joined the operations and technology committee.

The addition of Herz brings the number of Morgan Stanley directors to 14.

Herz chaired FASB from July 2002 to September 2010. He was also previously a member of the International Accounting Standards Board and currently serves on the board of Fannie Mae (FNMA.OB).

(Reporting By Lauren Tara LaCapra; Editing by Gerald E. McCormick and John Wallace)