Organizational Changes Over At Morgan Stanley Smith Barney

The Wall Street Journal's Deal Journal has a memo detailing MSSB organizational changes.

Here it is:

To: Morgan Stanley Smith Barney Employees

From: Greg Fleming

Subject: MSSB Organizational Announcement

As we approach our second anniversary, Morgan Stanley Smith Barney continues to make excellent progress toward our objective of global leadership in wealth management. I am pleased to announce some organizational changes designed to accelerate our momentum, further align our structure to serve FAs and clients, and prepare for the post-integration phase of our business.

Senior management connectivity with our FAs and an intensive focus on creating a unified culture around our Investment Excellence strategy are critical to our success. Accordingly, I have asked Craig Pfeiffer, Head of Marketing and the Client Experience, to leverage his unique experience and relationships in a new role as Vice Chairman of MSSB. Craig will join Vice Chairman Ray Harris in our ongoing outreach program that provides a consistent senior management presence in the branches with FAs and managers, and will help guide a number of strategic initiatives on my behalf. Craig’s extensive knowledge of our business and commitment to the highest professional standards make him ideally suited to this role.

Jeff Hack joins us as Chief Operating Officer of MSSB, reporting to me. In this new role, Jeff will help drive our performance and profitability across MSSB and oversee, for the business, the ongoing technology/operations integration activities. He also will be responsible for Global Risk Management.

Jeff rejoins the business from J.P. Morgan Chase where most recently he was COO of the Worldwide Securities Services business. Previously he was COO of the Global Private Banking and Private Wealth Management businesses, and Head of Corporate Strategy. Jeff knows our business well, having spent 10 years at Smith Barney in positions including Chief Financial Officer and COO. Throughout his time at Smith Barney, he was a passionate advocate for providing FAs with the products, services and platforms that help serve clients in a high quality and productive manner.

Ben Huneke, Head of the Office of Business Management for Wealth Management, U.S., will become Head of Strategy and Business Management for MSSB, reporting to me. In this new role, Ben will assume responsibility for Strategy, Strategic Lead Management, Diversity and Administration, and serve as senior liaison with our international businesses, Morgan Stanley’s institutional businesses, and the corporate functions that support MSSB.

Given the importance of the Capital Markets organization to MSSB and the need to expand its capacity as we move through integration, I have asked Michael Armstrong to focus solely on his responsibilities as Head of Capital Markets, reporting to me. Our international businesses will now report into my office.

Paul Hatch, currently the Head of Investment Strategy and Solutions, will assume responsibility for Retirement Services, Corporate Equity Solutions, and Wealth Advisory Resources and his new combined organization will be called Investment Strategy and Client Solutions.

Michelle Oroschakoff, who has served most recently as Chief Administrative Officer, will become Chief Global Risk Officer, reporting to Jeff Hack.

MSSB Marketing will combine with Firm Marketing reporting to Jim Rosenthal, COO for Morgan Stanley. The Client Advisory Centers and Client Facing technology and communications groups will report to Wealth Management, U.S., under Andy Saperstein. The Field Services and Contact Center groups will report into Operations under Tom Gooley.

We have a talented and committed leadership team that will help advance the success we already have achieved in MSSB. Please join me in congratulating everyone and wishing them the greatest success in their new roles.

SOURCE: Deal Journal

Have something to tell us about this article?

JefferiesAnd the Best Place to Work in the global financial markets 2018 is...