Morgan Stanley will have majority control of the retail brokerage joint venture it is establishing with Citigroup’s Smith Barney, with MS staff in key roles, Morgan Stanley has confirmed to WealthBriefing.

Morgan Stanley’s national sales head Andy Saperstein will run

US wealth management for the combined firm, managing branch office sales, recruiting and professional development, according to an internal memo.

Michael Armstrong, Morgan Stanley’s global head of private wealth management, will play a similar international role and will also be responsible for bringing the Citi family office unit into the combined business.

Smith Barney winners include Paul Hatch, who will head investment products and markets, including the investment advisory services arm at Smith Barney and the consulting services group at Morgan Stanley, the memo said.

Craig Pfeiffer, at present running high net worth clients at Smith Barney, will manage marketing and “client experience” and Morgan Stanley’s product group head Doug Ketterer will be chief operating officer of the US wealth management organisation.