By Kenneth Corbin
Morgan Stanley is starting off the new year with a raft of personnel and organizational changes, including the formation of a new unit that aims to integrate the firm's varied client offerings as well as a new head of Private Wealth Management.
To lead the new division, called Integrated Firm Management, Morgan Stanley has tapped 32-year company veteran Mandell Crawley, who will take the title of chief client officer, according to an internal memo.
"This new organization's mandate will be to ensure a consistent and systematic delivery of Morgan Stanley's comprehensive solution set in partnership with the business units," CEO Ted Pick wrote in the memo.
Crawley has served in a variety of leadership positions during his tenure at Morgan Stanley, including chief human resources officer and head of Private Wealth Management. Pick praised his "drive, intellect, and sense of Morgan Stanley purpose." Crawley will report to Morgan Stanley co-Presidents Andy Saperstein and Dan Simkowitz.
In a separate memo, Saperstein and Simkowitz detailed more of the personnel moves and mission of the new Integrated Firm Management division, which they say is "designed to drive coordination and commercial outcomes across our businesses as we consistently and systematically deliver Morgan Stanley to all our clients globally."
Elizabeth Dennis, who had been leading Private Wealth Management at the firm, will take on the role of head of global client coverage, co-reporting to Crawley and the leaders of the Wealth Management and Investment Banking divisions.
Daniel DiBiasio, who had been helming Morgan Stanley's Family Office division, will step in as head of Private Wealth Management, reporting to Vince Lumia, head of Wealth Management Client Segments.
Stephanie Crombie and Stephen Wronski will jointly lead Morgan Stanley's Family Office unit, reporting to DiBiasio.
In another move, the firm has named company veteran John Ryan CEO of Morgan Stanley Private Bank, National Association, and Morgan Stanley Bank.
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(END) Dow Jones Newswires
January 14, 2025 13:10 ET (18:10 GMT)
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