The former chief investment officer of Merrill Lynch’s
global wealth management division, Lisa Shalett, is to join Morgan Stanley later
this year, Reuters reports, citing
two unnamed sources.

Shalett is “still negotiating her specific role,” the sources reportedly said. However, she will be a
member of Morgan Stanley’s global investment committee and report to the firm’s
CIO, Michael Wilson, according to Reuters.

In May this year Ashvin Chhabra rejoined Merrill Lynch Wealth Management
as CIO and head of investment management and guidance, replacing Shalett who
the bank said left in February.

Morgan Stanley had not responded to a request from Family Wealth Report to comment on the move at the time of publication.