Morgan Stanley has reshuffled senior management positions and has picked Mandell Crawley, the head of private wealth management since 2017, as the firm's new head of human resources.
Crawley will be replaced as head of private wealth management by another Morgan Stanley veteran, Elizabeth Dennis, who will also keep her current job and title as head of strategic client management.
Morgan Stanley announced the changes in memos to staff yesterday. A spokesperson confirmed the moves. The firm's current HR chief, Jeff Brodsky, will become a vice chairman.
Crawley is a rarity on Wall Street — a senior executive who is African American. Large brokerage firms have faced criticism for years about a lack of diversity in their financial adviser workforces. Last June, for example, Morgan Stanley's former global head of diversity, Marilyn Booker, sued the wirehouse, alleging that it gave short shrift to diversity efforts.
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