Morgan Stanley shook up the ranks of its wealth management executives following the announced departure of Doug Ketterer, head of strategy and client management, according to an internal memo.
Greg Fleming, president of Morgan Stanley Wealth Management, announced Ketterer's leaving after 25 years with the firm. Ketterer had held his most recent post for just a little over 12 months. He held positions in investment banking, investment management and wealth management, during his tenure at the firm.
Morgan also said it was naming Sara Furber, COO for the wealth management division, to serve as head of Corporate & Institutional Wealth Management and Wealth Management Strategy. Her new responsibilities will include overseeing Morgan's elite Graystone Consulting unit in conjunction with Jim Tracy.
Replacing Fuber as COO is Adam Kudelka, currently head of human resources for the division. Kudelka will oversee coordination across the wealth management division's units. He will be replaced as head of human resources by Larry Frers, who has served in a similar function for field management.
Shelley O'Connor, head of field management, is taking on responsibility for international wealth management. Additionally, the private wealth management unit will report directly to O'Connor.
"These organizational changes will enhance our growth strategy, further align our businesses, and promote the development of a specialized value proposition for each of our clients," Fleming said.
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