Ex-Fidelity Exec Named To Lead Morgan Stanley Global Wealth Management

Ellyn A. McColgan, who left Fidelity Investments abruptly this summer, has been named president and chief operating officer of Morgan Stanley’s global wealth-management group.

McColgan will report to James Gorman, who was recently promoted to co-president.

According to published reports, McColgan will begin in April and will oversee the firm’s more than 8,300 advisers.

While at Fidelity Investments, it had been speculated that McColgan might take over Edward “Ned’ Johnson III’s reins at the firm. However, after being named president of distribution in April, she resigned in August (see McColgan Departs Fidelity After Four Months In New Post), after being at the company for nearly two decades.