Morgan Stanley taps new international wealth management boss

Morgan Stanley taps new international wealth management boss
Morgan Stanley (MS), owner of the world's largest retail brokerage, named Charlie Mak president of the firm's international wealth-management unit.
AUG 02, 2011
Morgan Stanley (MS), owner of the world’s largest retail brokerage, named Charlie Mak president of the firm’s international wealth-management unit. Mak, previously head of the Morgan Stanley Smith Barney unit in Asia, will report to Greg Fleming, president of global wealth management, according to an internal memo today from Fleming. Jim Wiggins, a spokesman for New York-based Morgan Stanley, confirmed the memo’s contents. Fleming, 48, said in April that he asked Michael Armstrong, who headed international wealth management, to focus on his role as head of capital markets for the brokerage. The wealth- management group had $10 billion in international client inflows in 2010, compared with $12.9 billion from domestic customers. James Jesse, chief operating officer of the capital markets unit, will become COO of Morgan Stanley International Wealth Management, according to the memo. Jesse will relocate from New York to Hong Kong, Fleming said in the memo. Chris Van Aeken will lead the brokerage’s international- banking and lending efforts, in addition to his role as chairman of the firm’s Swiss private bank, according to the memo. --Bloomberg

Latest News

Advisors get the keys: AdvisorCRM and Zeplyn let firms build their own AI tools
Advisors get the keys: AdvisorCRM and Zeplyn let firms build their own AI tools

Two wealthtech providers are handing advisors the controls, letting firms design their own workflows and AI agents in plain language.

Former San Francisco advisor gets nine-years for running Ponzi
Former San Francisco advisor gets nine-years for running Ponzi

Edwin Lickiss earlier admitted that he defrauded at least 93 victims of over $9.5 million from 1998 through 2024.

Financial confidence gap widens as advisors fill knowledge void
Financial confidence gap widens as advisors fill knowledge void

New research shows Americans want control over their money but lack the confidence to take action – and advisors are the bridge.

Bipartisan bill clarifying ESOP stock rules sails through House
Bipartisan bill clarifying ESOP stock rules sails through House

Retire Through Ownership Act lets ESOP fiduciaries rely on independent appraisals, closing a decades-old valuation gap for private company stock.

Sanctuary Wealth adds estate, M&A and marketing leaders to boost partner support
Sanctuary Wealth adds estate, M&A and marketing leaders to boost partner support

The breakaway-focused platform's senior hires from Wells Fargo, Bluespring and Hightower deepen its bench for growth and succession planning.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

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