Morgan Stanley Names Jed Finn as Head of Wealth Business

Morgan Stanley has appointed Jed Finn as the head of its $4.8 trillion wealth management business, a move that is part of a recent revamp of its leadership team for investment bank’s money management divisions. In addition to Finn, Jacques Chappuis and Ben Huneke have been named co-heads of investment management, reporting directly to Saperstein.

The appointment of Finn comes at a time when the wealth and investment management divisions have grown significantly over the past decade and accounted for roughly 57% of the firm’s revenue in the first nine months of this year. They manage a total of $6.2 trillion in client assets.

Finn has held several leadership roles at Morgan Stanley since joining the company in 2011, including serving as managing director and global head of financial planning services. A dual citizen of Canada and the U.S., he majored in economics and computer science at McGill University in Montreal before working at McKinsey & Co., where he was closely involved in helping integrate Smith Barney brokerage business that Morgan Stanley purchased from Citigroup Inc.

In recent years, Finn and co-president Andy Saperstein sealed a deal to buy Solium Capital, a software venture that manages employee stock options. The acquisition was initially viewed with skepticism due to its high price but is now seen as a success within the bank, helping keep entrepreneurs within private companies and executives within public companies under Morgan Stanley’s wealth management ecosystem.