Morgan Stanley Promotes Jed Finn to Head of Wealth Management
Finn will assume his new role on January 1, 2024, as part of the division’s transition under Andy Saperstein.
Jed Finn
Jed Finn is set to lead Morgan Stanley’s wealth management division, reporting to its recently named co-president, Andy Saperstein, who made the announcement in a memo to employees on Monday.
Finn, who joined Morgan Stanley in 2011, will be promoted in January 2024 from his current position of chief operating officer of wealth management.
“His appointment is a natural progression in what has been an outstanding career and will leverage his knowledge of the full range of our wealth management businesses,” Saperstein wrote in the memo obtained by PLANADVISER.
Finn will assume his role the same day as new duties begin for Ted Pick, promoted to CEO as part of a redesigned senior leadership team. In October, Morgan Stanley announced that Pick, currently co-president, would replace James Gorman as CEO of the global financial services firm, while Saperstein and Dan Simkowitz both take on additional responsibility.
Finn has been the head of Morgan Stanley’s corporate and institutional solutions group since 2019, according to the company. That division combines financial services with the businesses of administering stock, financial wellness and retirement plans for the employees of corporate clients.
Before joining Morgan Stanley, Finn was a partner in consulting firm McKinsey & Co., overseeing the expansion of the wealth unit’s workplace and corporate stock plan business.
In conjunction with Pick’s appointment, Saperstein’s responsibilities were expanded to include both wealth and investment management. The two units manage a combined $6.2 trillion in assets, generating more than half of the company’s revenue year-to-date. Saperstein, Pick and Gorman had all previously worked at McKinsey.
In another organizational shift, Ben Huneke, an investment product executive, was promoted to co-head of investment management alongside Jacques Chappuis. Both will report directly to Saperstein.
Huneke, currently heading the investment solutions group in wealth management, will oversee the development, approval, marketing and distribution of all investment products within the wealth division.
Chappuis, who joined Morgan Stanley in 2006, serves as the global head of distribution and co-head of the solutions and multi-asset group within investment management. His expertise lies in distribution, alternatives and multi-asset class products.