Morgan Stanley has appointed Jed Finn to lead its $4.8 trillion wealth management business, a move that marks the latest addition to the leadership team of co-president Andy Saperstein. At 45 years old, Finn has been a close associate of Saperstein since joining the company in 2011 and now takes over oversight of the firm’s biggest revenue generator.
In addition to Finn’s appointment, Jacques Chappuis and Ben Huneke have been named co-heads of investment management at Morgan Stanley. Both will report directly to Saperstein, according to an internal memo seen by Bloomberg News. The move is part of a recent restructuring of Saperstein’s leadership team for the investment bank’s money management divisions.
Finn has held several leadership roles in his 12-year tenure at Morgan Stanley, including managing its Canadian wealth management operations and serving as head of global technology strategy for its wealth management division. He is a dual citizen of Canada and the U.S., with degrees in economics and computer science from McGill University in Montreal. Prior to joining Morgan Stanley, Finn worked at McKinsey & Co., where he was closely involved in integrating Smith Barney brokerage into the bank following its acquisition from Citigroup Inc. More recently, he led the acquisition of Solium Capital, a software venture that manages employee stock options for private companies and executives in public companies within Morgan Stanley’s wealth management ecosystem.