Morgan Stanley named Jed Finn head of the company’s $4.8 trillion wealth-management business, giving him oversight of the biggest revenue generator at the firm.
The move is part of co-President Andy Saperstein’s revamp of his leadership team for the investment bank’s money-management divisions. Finn, 45, has been a close lieutenant of Saperstein’s since joining the firm in 2011.
Jacques Chappuis, 54, and Ben Huneke, 51, will become co-heads of investment management, also reporting to Saperstein, according to an internal memo seen by Bloomberg News.
Chappuis is currently global head of distribution and co-head of the solutions and multi-asset group. Huneke is head of the investment-solutions group.
Saperstein was given oversight of both wealth and investment management as part of the executive shuffle that saw Ted Pick appointed as Morgan Stanley’s next chief executive officer.
Those two divisions have grown significantly over the past decade and produced roughly 57% of the firm’s revenue in the first nine months of this year. They manage a total of $6.2 trillion in client assets.