Morgan Stanley has appointed Jed Finn as the head of the company's $4.8 trillion wealth-management business, granting him oversight of the firm's most significant revenue generator.
This decision is a key component of co-President Andy Saperstein's restructuring of the leadership team overseeing the investment bank's money-management divisions. Jed Finn, who has been a trusted associate of Saperstein since joining the firm in 2011, will now lead the $4.8 trillion wealth-management business.
Before assuming this role, Finn served as the Chief Operating Officer of Morgan Stanley Wealth Management, where he regularly faced challenging decisions concerning budgets and strategies. Additionally, Jed Finn holds the position of Head of Corporate and Institutional Solutions, a newly established initiative launched by the division earlier this year.
In a recent development, Finn and Saperstein successfully finalized the acquisition of Solium Capital, a software venture specializing in managing employee stock options. Despite initial skepticism over its high cost, the acquisition is now regarded within the bank as a triumph. It has proven effective in retaining entrepreneurs in private companies and executives in public companies within Morgan Stanley’s wealth-management ecosystem.