Morgan Stanley has recently appointed Jed Finn as the head of its $4.8 trillion wealth management business. This move is part of an overhaul of the company’s leadership team for its money management divisions, led by co-chairman Andy Saperstein.
In addition to Finn’s appointment, Jacques Chappuis and Ben Huneke have been named co-heads of investment management, reporting directly to Saperstein. The three executives will oversee two divisions that have grown significantly over the past decade and generated roughly 57% of the firm’s revenue in the first nine months of this year. They manage a total of $6.2 trillion in client assets.
Finn has held several leadership roles at Morgan Stanley since joining the company in 2011, working closely with Saperstein on integrating Smith Barney’s brokerage business that was acquired from Citigroup Inc. He is a dual citizen of Canada and the USA and graduated in economics and computer science from McGill University in Montreal before moving to McKinsey & Co., where he worked for many years before joining Morgan Stanley.
Recently, Finn and Saperstein closed a deal to acquire Solium Capital, a software venture that manages employee stock options. The acquisition has been viewed as a success at the bank, helping to keep private-company entrepreneurs and public-company executives within Morgan Stanley’s wealth management ecosystem.