Mandell Crawley's former responsibilities will be distributed to other personnel
Morgan Stanley has promoted a wealth management executive to head up marketing for the company as it continues to focus on bolstering the role of retail wealth management at the firm.
Mandell Crawley, who had been head of business development overseeing products support, and training and development for the firm's roughly 16,300 financial advisers, will become chief marketing officer, a spokeswoman for the firm, Christine Jockle, confirmed. The firm sent out a memo this morning to its adviser force announcing his replacements.
Mr. Crawley fills the role vacated by Susan Smith Ellis, who left the firm in July after nine months. The chief marketing officer position is a newly created role established in October of last year to help boost the firm's presence in the retail investor market.
Mr. Crawley's promotion reshuffles some of the field leadership for the firm's adviser force. He had led business development for more than three years, according to his LinkedIn profile.
Jim McCarthy, who was head of workplace and investment solutions, will take over many of Mr. Crawley's former roles as the head of a new “solutions delivery” organization, which oversees product support groups. Mr. McCarthy will report directly to Shelley O'Connor, head of field management, and Andy Saperstein, head of investment products and services, according to the memo, which came from Ms. O'Connor and Mr. Saperstein.
The solutions delivery group will oversee regional support teams of specialists who work with advisers on product sales.
The new group will combine the current business development team with the field-facing product specialists within investment products and services, the memo said. The regional business development managers and the product sales heads also will maintain reporting lines to their respective regional directors and product heads, the memo said.
Mr. Crawley's other role, leading field talent development, including management and adviser training, will go to Barry Goldstein, who is chief operating officer for Morgan Stanley Wealth Management.
Mr. Goldstein took over the position of COO in April during a reorganization and is responsible for business management activities and financial adviser compensation. He took over the role from David Lessing, who joined Beechwood Re, a reinsurance firm, after leaving Morgan Stanley earlier this year.
Ben Huneke will take over responsibility of heading up the investment solutions team, reporting to Mr. Saperstein. That group oversees various funds, annuities and personal retirement businesses, according to the memo.
The corporate retirement business that had been under Mr. McCarthy will now report to Chris Randazzo, who continues to oversee the Corporate Equity Solutions Group as well.
