Morgan Stanley Smith Barney appointed James Tracy as chief operating officer of distribution and development for wealth management in the U.S. and Douglas Ketterer as head of its private-wealth management unit in the U.S. on Monday, July 19.
Tracy's responsibilities will include business development, professional development, talent management and national branch services for the group's 18,000-plus financial advisors, while Ketterer will lead the ultra-high net worth client segment and its 300 private wealth advisors.
Both report to Andy Saperstein, head of wealth management in the United States.
Ketterer served most recently as COO of U.S. wealth management and joined Morgan Stanley in 1990.
Tracy most recently was head of the Consulting Group and previously led national sales, professional development, marketing and recruiting for Citigroup's Global Wealth Management division, including the former Smith Barney.
Morgan Stanley is set to release its second-quarter earnings on Wednesday, July 21.