There have been changes at the top of Morgan Stanley, whose wealth management group is one of the main growth engines of this US business.

Morgan Stanley, which recently named a successor to CEO James Gorman, has named Jed Finn as the head of its $1.8 trillion wealth-management business.

Finn has worked closely with co-president Andy Saperstein since Finn joined the Wall Street firm in 2011. Finn will be leading one of the most important growth engines for the US firm.

"Our wealth and investment management businesses combined now manage a total of $6.2 trillion in client assets, making Morgan Stanley one of the largest wealth and asset management firms in the world. I look forward to working with Jed, Jacques and Ben as we continue to grow those market-leading businesses,"  Saperstein said in a memo seen by this news service.

Jacques Chappuis and Ben Huneke, will become co-heads of investment management, also reporting to Saperstein. Chappuis is global head of distribution and co-head of the solutions and multi-asset group. Huneke is head of the investment-solutions group.

Saperstein was given oversight of both wealth and investment management as part of the executive shuffle that saw Ted Pick appointed as Morgan Stanley’s next chief executive officer.

Finn is a dual citizen of the US and Canada.

The announcement about Gorman in late October came out shortly after Morgan Stanley issued third-quarter financial results.