Family Office
Morgan Stanley launches multifamily-office group
Team from U.S. Trust to spearhead new unit aimed at ultra-wealthy
families. Morgan Stanley has hired Robert Stolar, formerly head
of U.S. Trust's U.S western regional multifamily office group, to
run a new group to serve ultra-high-net-worth clients and family
offices.
The new unit, consisting of Stolar and ex-U.S. Trust wealth
managers Christine Guidera and Mary Davey, will focus on families
with at least $50 million. It falls under the purview of Donald
Herrema, head of Morgan Stanley Private Wealth Management,
Americas.
Experience
Bank of America just completed its acquisition of U.S. Trust from
Schwab.
"We are extremely pleased that this seasoned team, with extensive
knowledge of the ultra-high net worth market, has joined Morgan
Stanley," says Herrema. "[They] bring significant experience in
private-wealth management and a breadth of product knowledge that
will support the [Morgan Stanley's] expansion plans serving
ultra-high-net-worth clients and family offices."
Guidera worked at U.S. Trust for nine years; Davey was there for
seven years.
In addition to heading up Morgan Stanley's new family-office
group, Stolar is in charge of Morgan Stanley Trust a
"limited-purpose" national bank that provides trust services to
ultra-high-net-worth clients in the U.S.
Morgan Stanley Private Wealth Management provides investment and
private-banking services to ultra-high-net-worth individuals,
families and related institutions in the Americas, Europe, the
Middle East and Asia. -FWR
.
