Morgan Stanley has named Eric Benedict as head of its brokerage business, which caters to the clients with US$20 million or more to invest.
Benedict most recently ran Morgan Stanley Wealth Management’s capital markets unit, which seeks sophisticated investments, trading and capital-raising strategies for wealthy families and individual clients.
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Benedict takes over the private wealth division from Doug Ketterer, who was appointed as head of strategy and client management in February.
Benedict will report to Ketterer and to Shelley O’Connor, head of field management.
Benedict’s role as head of capital markets sales and product management has been assumed by Vince Lumia.
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