Morgan Stanley Changes Wealth Management Unit
Morgan Stanley has shuffled its wealth unit and took off a layer of management. Mandela Crawley, the bank’s Chief Marketing Officer will replace Vince Lumia as Head of Private Wealth Management.
“The firm eliminated its divisional level with the goal of flattening the organization.”
The firm eliminated its divisional level with the goal of flattening the organization, naming former divisional heads Bill McMahon and Rick Skae as vice chairmen of wealth management.
News Source: Reuters
About Morgan Stanley
Morgan Stanley was founded in 1935, with the commitment to community as its guiding principle. Through its subsidiaries and affiliates, advises and originates, the bank trades, manages and distributes capital for governments, institutions and individuals. Its segments include Institutional Securities, Wealth Management and Investment Management. Through its subsidiaries and affiliates, the Company provides a range of products and services to a group of clients and customers, including corporations, governments, financial institutions and individuals.
- Origin : New York, USA
- Assets : $ 602.71 billion
- Revenue : $ 35.16 billion
- Employees : 55,000
Official Website: www.morganstanley.com
News & Media: Press Release
Updated on 8th August 2016