Morgan Stanley continues to undergo significant leadership restructuring, with key appointments aimed at further enhancing the company’s wealth and investment management capabilities.

In a memo released by co-President Andy Saperstein on Monday, it was announced that Jed Finn, a seasoned executive within the organization, will assume the role of head of wealth management, effective January 1.

This pivotal change in leadership comes in the wake of Saperstein’s recent appointment to oversee both wealth and investment management, a move that followed Ted Pick’s ascension to the role of chief executive. Together, the wealth and investment management units collectively oversee an impressive $6.2 trillion in assets, and they have been responsible for generating more than half of the company’s revenue over the course of the year.

Jed Finn, at the age of 45, brings a wealth of experience to his new role. Having joined Morgan Stanley in 2011, he has steadily climbed the ranks and has most recently served as the chief operating officer of wealth management. Like Saperstein, Pick, and the outgoing CEO, James Gorman, Finn’s roots trace back to consulting powerhouse McKinsey & Co.

This shared background speaks to the caliber of leadership that Morgan Stanley values, with these former McKinsey partners consistently proving themselves as invaluable assets to the company. Finn has notably played a pivotal role in steering the expansion of the workplace and corporate stock plan business within the wealth unit, demonstrating his deep understanding of the organization’s intricacies.

Saperstein, in his memo, praised Finn’s achievements and stated, “His appointment is a natural progression in what has been an outstanding career and will leverage his knowledge of the full range of our wealth management businesses.” This strategic move underscores Morgan Stanley’s commitment to nurturing and promoting talent from within, ensuring that the company’s leadership remains well-versed in the intricacies of its various business segments.

In addition to Finn’s promotion, Morgan Stanley is also making a significant change within its investment management division. Ben Huneke, a seasoned investment product executive at the age of 51, will be assuming the role of co-head of investment management alongside Jacques Chappuis, who is 54. Both executives will report directly to co-President Andy Saperstein, as outlined in the memo.

Huneke, also a McKinsey alumnus, has been instrumental in his role as the head of the investment solutions group within wealth management. He has overseen the development, approval, marketing, and distribution of all investment products within the wealth management division. His expanded responsibilities in recent years highlight his strong track record and exceptional capabilities in this domain.

On the other hand, Jacques Chappuis, who joined Morgan Stanley in 2006 from Citigroup, currently holds the position of global head of distribution and co-head of the solutions and multi-asset group within investment management. His extensive experience in distribution, alternatives, and multi-asset class products makes him a valuable addition to the leadership team as co-head of investment management.

The strategic changes within Morgan Stanley’s leadership structure demonstrate the company’s commitment to its clients and shareholders by ensuring that the wealth and investment management units continue to operate at peak performance. With assets totaling $6.2 trillion and a dominant share of the company’s revenue, these units play a pivotal role in the overall
success of the organization. Under the guidance of seasoned leaders like Jed Finn, Ben Huneke, and Jacques Chappuis, Morgan Stanley is well-positioned to continue its legacy of excellence in the financial services industry.