Morgan Stanley Appoints E*Trade Executives for Roles on Its Wealth Division

The moves happen in the context of making a unified leadership team in the wealth division.

Morgan Stanley (NYSE: MS), a top US investment bank, has tapped various executives from E*Trade to take senior roles amid a leadership change. According to Reuters, Chad Turner, E*Trade’s former Chief Financial Officer, will lead the digital direct business team in wealth management. Andrea Zaretsky, previously E*Trade’s Chief Marketing Officer, will have the same role in Morgan Stanley’s wealth management.

The memo sent by Andy Saperstein, Head of Morgan Stanley’s wealth business and Co-President of the bank, notes that the manoeuvre seeks to make a unified leadership team. In fact, together with the two appointments mentioned above, Mike Curcio, previously the E*Trade’s Head of self-directed brokerage, will work as the Head of strategic transformation. The three new executives of the wealth division will report to Saperstein.

On the same strain of announcements, Mike Murphy, E*Trade’s Head of Brokerage Services, will lead the Digital Direct Client Services at Morgan Stanley. At the same time, Chris Larkin, E*Trade’s Head of Trading, will supervise trading across the division, the memo noted.

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Moreover, Shane Mulron, who previously was the Head of Institutional Product and Risk Management at E*Trade, will lead business control and support at Morgan Stanley. Another tapping in the strategic information team was announced by the investment bank, as Brett Goodman, former E*Trade’s Head of Strategy, Communication, and Investor Relations, will be working within the team led by Curcio.

Latest Morgan Stanley Staff Moves

The executive staff moves in Morgan Stanley have been making the headlines recently. Edward Keller, the US investment bank’s Global Head of the prime brokerage business, resigned from his role, citing health issues. Penny Novick and Kim Shaw will replace him as the new Global Co-Heads of the prime brokerage.

The exact health issue details are unknown as of press time. Keller has been a veteran in the firm for a long time, after joining Morgan Stanley in 1994.

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