Morgan Stanley has shifted a pair of senior executives between its securities and wealth-management divisions, to broaden the firm’s leadership’s experience with its main businesses.
As a part of the shift, Raj Dhanda, who co-headed Morgan Stanley’s capital markets arm, will move to the firm’s wealth management division replacing Andy Saperstein as head of investment products and services.
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Saperstein, in turn, will shift to the firm’s banking-and-trading division, assuming the role of the unit’s co-chief operating officer.
Mo Assomull, who had been the securities arm’s co-COO, will succeed Dhanda as co-head of global capital markets.
The bank has also added three executives to two internal business committees including Clare Woodman, the other co-COO of institutional securities, who will join the operating committee, while Mandell Crawley, head of marketing, and Kathleen McCabe, head of investor relations, will join the management committee.
Morgan Stanley CEO James Gorman said in a memo to employees: "Cross-pollinating key leaders across our major businesses further knits the Morgan Stanley culture and enhances our ability to deliver the entire firm for the benefit of our clients. It is critical that we continue to build our senior leadership team."
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