Morgan Stanley chief US economist Ellen Zentner is leaving her post to lead a newly created team within the bank’s wealth management business.
Zentner will lead the new thematic and macro investing team at Morgan Stanley’s Global Investment Office starting Aug. 1, according to an internal memo reviewed by Bloomberg News.
Ellen Zentner, managing director and chief US economist for Morgan Stanley & Co., during the National Association of Business Economics (NABE) economic policy conference in Dallas, Texas, US, on Monday, Oct. 9, 2023. The theme of event is "Beyond the Business Cycle: Adapting to a New Global Paradigm." Photographer: Nitashia Johnson/Bloomberg
She will take over as chief economic strategist and global head of thematic and macro investing and will report to Lisa Shalett, the chief investment officer of the bank’s wealth management unit.
Zentner will focus on “publishing thought leadership on major macro and economic themes,” as well as working on advancing thematic research, Shalett said in the memo circulated Monday.
Zentner, who was head of US macroeconomics at Morgan Stanley since 2015, was one of the last remaining female chief US economists on Wall Street. Men primarily hold those positions at the nearly two dozen financial institutions designated by the Federal Reserve as primary dealers — prestigious organizations that help the central bank implement monetary policy.
The memo didn’t say who’d succeed Zentner. She declined to comment.
Broker-dealers that sold the defunct securities backed by Inspired Healthcare generated more than $100 million in fees and commissions.
FINRA barred the advisor, Sung Moo Cho, last month.
A new MetLife survey finds real estate professionals are increasingly steering clients toward tax experts as rising property values leave more sellers facing significant capital gains.
The independent broker-dealer expands its business development bench with a new recruiter and an internal promotion in the West.
The leading ultra-high-net-worth RIA joins other large wealth firms, including Raymond James and LPL, in creating executive roles focused on artificial intelligence strategy
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
