Morgan Stanley has announced the restructuring of the executive team of its wealth management business through an internal memorandum.
The realignment follows the departure of Doug Ketterer who headed the strategy and client management team.
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The firm has elevated Sara Furber, the current COO of wealth management, to the position of head of corporate and institutional wealth management and wealth management strategy.
In her new role, Furber will run institutional businesses within the retail brokerage group including the division’s stock and retirement plans and government entities and corporate cash businesses besides overseeing the Graystone unit, Morgan Stanley Wealth’s digital platforms and its Client Advisory Center for less affluent customers.
Adam Kudelka, who runs the human resources area, will replace Furber as COO of the wealth unit who in turn will be replaced by Larry Frers, who oversees human resources for brokers and managers in the field.
Shelley O’Connor, head of field management, will oversee the firm’s international wealth management division and the private wealth management business.
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By GlobalDataMorgan Stanley Wealth head Greg Fleming said: "These organizational changes will enhance our growth strategy, further align our businesses, and promote the development of a specialized value proposition for each of our clients."
