Morgan Stanley has appointed Vince Lumia as its new head of private wealth management business.
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According to a memo sent by Morgan Stanley wealth management president Greg Fleming, Lumia, presently the unit’s head of capital markets, will replace Eric Benedict, who is leaving after 19 years.
Lumia joined the firm in 1999 in the position of a financial advisor.
Lumia will be succeeded by Elizabeth Dennis as capital markets head. Dennis joined in 2001 and earlier served in the debt-underwriting division of the firm’s investment bank.
Additionally, in a separate memo, the firm has named Jim Tracy, currently the consulting group head, as the new vice chairman of the wealth management arm.
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