Morgan Stanley Announces Jed Finn as Head of Wealth Business

Morgan Stanley has recently appointed Jed Finn to lead its $4.8 trillion wealth management business, giving him oversight of the largest revenue generator at the firm. At 45 years old, Finn has been a close associate of co-president Andy Saperstein since joining the company in 2011 and is now poised to take on a significant leadership role within the investment bank’s money management divisions.

This move is part of Saperstein’s recent revamp of his leadership team for the wealth and investment management divisions. In addition to Finn’s appointment, Jacques Chappuis and Ben Huneke have also been named co-heads of investment management, reporting directly to Saperstein.

Saperstein was given oversight of both wealth and investment management as part of an executive shuffle that saw Ted Pick appointed as Morgan Stanley’s next chief executive. Those two divisions have grown significantly over the past decade and produced 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 within the company in the past 12 years. A dual citizen of Canada and the U.S., he majored in economics and computer science at McGill University in Montreal before joining McKinsey & Co., where he worked closely with Saperstein and CEO James Gorman on integrating Smith Barney brokerage business that Morgan Stanley purchased from Citigroup Inc. More recently, Finn and Saperstein sealed a deal to buy Solium Capital, a software venture that manages employee stock options, which is now seen as a success within the bank for keeping entrepreneurs in private companies and executives in public companies within Morgan Stanley’s wealth management ecosystem.