Morgan Stanley Shuffles Brokerage Leadership

By Dow Jones Business News, 
A A A
Share |


By Justin Baer

Morgan Stanley shuffled the leadership team at its wealth-management arm, creating a new strategy role for one executive while promoting two others.

The Wall Street firm appointed Doug Ketterer head of strategy and client management, according to a memorandum sent Wednesday to employees.

Succeeding Mr. Ketterer as head of field management is Shelley O'Connor, who had run Morgan Stanley's private bank. Eric Heaton will replace Ms. O'Connor has head of the private-banking group, the memo said. He had served as president of Morgan Stanley Banks.

"Doug will focus on our overall client strategy, acquisition and retention initiatives, how we engage with clients, and our client-facing platforms," Greg Fleming, president of the firm's wealth- and investment-management businesses, wrote in the memo.

Ms. O'Connor, who was added to Morgan Stanley's operating committee earlier this month, becomes the first woman to oversee the firm's force of 16,456 financial advisers--the industry's largest. "Given her breadth of experience and proven ability to execute strategies focused on clients and advisers, she is ideally suited to lead the field," Mr. Fleming wrote.

A former investment banker, Mr. Heaton joined Morgan Stanley in 2012.

Mr. Ketterer plans to make "additional organizational announcements in due course," Mr. Fleming wrote.

Write to Justin Baer at justin.baer@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


  (END) Dow Jones Newswires
  02-26-141324ET
  Copyright (c) 2014 Dow Jones & Company, Inc.


This article appears in: News Headlines

Referenced Stocks: MS

Dow Jones Business News


More from Dow Jones Business News:

Related Videos

Stocks

Referenced

71%

Most Active by Volume

72,157,294
  • $61.36 ▼ 2.65%
56,535,455
  • $34.92 ▼ 3.78%
49,608,479
  • $4.42 ▼ 3.07%
49,328,445
  • $25.91 ▼ 3.18%
48,932,529
  • $16.37 ▲ 0.49%
38,182,422
  • $3.17 ▼ 1.55%
33,298,381
  • $73.86 ▲ 1.37%
32,790,375
  • $47.43 ▼ 1.02%
As of 4/23/2014, 04:07 PM