Morgan Stanley is doubling down on its AI ambitions as it names a key executive to a newly created role.
Jeff McMillan has assumed a new leadership role as head of firmwide artificial intelligence, according to an internal memo obtained by InvestmentNews.
In his new role, McMillan will be reporting to Morgan Stanley co-presidents Andy Saperstein and Dan Simkowitz, who was elevated to his co-presidential position in an October leadership shake-up.
Previously, McMillan was in charge of the analytics, data, and innovation unit of Morgan Stanley's wealth division. There, he played an instrumental role in building its Modern Wealth Management platform, as well as its effort to build an internal chatbot for advisors under an exclusive partnership with OpenAI.
McMillan will build on that latest feather in his professional cap in his new position, where he will be coordinating across Morgan Stanley's enterprise to ensure it's adopting the appropriate AI strategy and putting proper governance in place, according to the memo.
To help maintain Morgan Stanley's leadership in AI innovation, he'll be partnering with its various businesses and infrastructure areas to find and prioritize opportunities to leverage the blossoming technology.
He'll be working closely with Katy Huberty, head of global research, with whom he will co-chair a firmwide AI steering group that includes representatives across Morgan Stanley's business units and infrastructure groups. McMillan will also be working in close coordination with Mike Pizzi, head of US banks and technology, and Sid Visentini, head of firm strategy.
Medicare scam, pandemic benefit theft, offshore tax evasion — federal prosecutors are casting a wide net.
Report finds that pension income acts as a financial lifeline for retirees facing late-life shocks and raises urgent questions about the DC-only future.
Nine-month electronic trading freeze and share lending program at the center of dismissed claim.
Meanwhile, Rossby Financial's leadership buildout rolls on with a new COO appointment as Balefire Wealth welcomes a distinguished retirement specialist to its national network.
With a smaller group of companies driving stock market performance, advisors must work more intentionally to manage concentration risks within client portfolios.
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline
