Pavlos Bailas has stepped down from his role as head of private wealth management for Europe, Middle East and Africa at Morgan Stanley to pursue personal interests outside of the firm, this publication can exclusively report.

Pavlos Bailas has stepped down from his role as head of private
wealth management for Europe, Middle East and Africa
at Morgan Stanley to pursue personal interests outside of the firm, this
publication can exclusively report.

As part of the change, David Haythe, a long-standing Morgan
Stanley employee and senior manger, will assume the role as interim head of PWM
EMEA, the US
firm confirmed to WealthBriefing.

Bailas has held his role since October 2010 and had been
with the US
firm since 1992.

Recently, Morgan Stanley’s private wealth management arm appointed
former Deutsche Bank man Martyn Surguy as its chief investment officer,
responsible for all of the firm’s discretionary investment actions in the EMEA
region. He took over from Chris Godding, who left to join Signia Wealth, the
UK-based multi-family office, early this year. Godding was appointed co-chief
CIO at that firm. A few weeks ago, this part of the Morgan Stanley business appointed
Martin Ash as an investment advisor covering the UK,
joining from Alliance Bernstein Global Wealth Management in London.

Among other changes, Morgan Stanley's brokerage joint
venture with Citigroup unit, Morgan Stanley Smith Barney, will eventually
remove the Smith Barney name, the firm has said.