People Moves
Morgan Stanley Solidifies Wealth Management Leadership Structure - Reports
The newly-appointed co-heads of Morgan Stanley Wealth Management have reportedly made a number of key role changes, continuing a series of other recent moves at the firm.
There have been more changes at Morgan Stanley Wealth Management following the recent departure of the unit's chief executive, Greg Fleming, and subsequent appointments of Andy Saperstein and Shelley O'Connor as co-heads, according to media reports.
The new wealth management heads have "solidified their management structure" by shuffling some executives into new roles, The Wall Street Journal reported.
Family Wealth Report is in contact with the firm about the matter and will update this article in due course.
Vince Lumia, head of private wealth management, will take on extra responsibility for the strategic lead management group, which is responsible for encouraging referrals between various units of the bank.
Meanwhile, Ben Huneke is taking on a new role as head of investment solutions, while chief information officer Chris Randazzo is now also head of institutional wealth solutions.
Other moves, the WSJ said, include expanding Lisa Golia’s role to chief administrative officer for all of wealth management, succeeding Adam Kudelka, who is taking a new position in the firm’s investment solutions group. (Golia is now responsible for field and client communications, the branch services organization and the technology training group.)
Furthermore, Jim McCarthy has been named as national sales manager and Jim Tracy is taking responsibility for Morgan Stanley’s consulting group.
Eric Heaton continues as head of the private banking group and Jed Finn continues as chief operating officer for wealth management, according to Reuters.
In other recent news, last week Morgan Stanley Wealth Management's head of investment products and services, Raj Dhanda, said he is leaving after 26 years at the company (see more here). The latest memo also reportedly referred to the recent hire of Charles Schwab executive Naureen Hassan as chief digital officer within its wealth management division. She starts on March 1.
