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Morgan Stanley Smith Barney Executive Team Announced

By Helen Kearney
April 13, 2009
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Morgan Stanley and Smith Barney have unveiled the management team for their new joint venture. The team is largely made up of Morgan Stanley executives, with only a few representatives from Smith Barney.

As previously announced, Morgan Stanley co-president James Gorman will head up the joint venture as chairman. Current Citi global wealth chief, Charlie Johnston, will be his second in command as the firm’s president and chief operating officer.

Ray Harris, the vice chairman of Morgan’s global wealth management will continue in that role in the new joint venture. Jim Rosenthal, the current co-head of the Morgan Stanley Smith Barney integration office, will continue to lead the integration effort after the deal closes. Jeff Gelfand has been appointed as chief financial officer of the joint venture. He was previously the finance director of Morgan’s global wealth management. Cece Sutton, currently the head of retail banking at Morgan Stanley, will oversee banking products and services for the joint venture. These executives will all report directly to James Gorman.

A number of other executives will report directly to Charlie Johnston. These include Andy Saperstein, the current head of national sales at Morgan’s global wealth division, who will serve as head of U.S. wealth management, overseeing the branches, branch office sales, recruiting and learning and professional development.

Michael Armstrong will continue as global head of Morgan Stanley private wealth management, which serves ultra-high-net-worth clients, and will also oversee the integration of the Smith Barney Citi Family Office into the new organization.

The most senior Citi appointments, aside from Johnston, are Paul Hatch and Craig Pfeiffer. Hatch, the current head of investment products at Citi global wealth, will oversee investment products and markets. Pfeiffer, the current head of the US high-net-worth segment at Citi, will become the head of marketing and client experience.

Of the four division directors for the joint venture, two come from Smith Barney: Ron Ferrelli (Northeast division) and Doug Kentfield (West division), and two from Morgan Stanley: Bill McMahon (South division) and Rick Skae (central division).