Morgan Stanley Smith Barney has chosen James Walker to head its consulting services group. Walker takes over from James Tracy, who in July was named chief operating officer of distribution and development for wealth management in the US.

Walker was most recently COO of investment strategy and solutions at MSSB. Previously he was director of finance, risk and strategy for Citi global wealth management investments, having joined Citi in 2006 as COO of investment advisory services. Walker will continue to report to Paul Hatch, head of the investment strategy and solutions group.

The consulting services group has more than $385 billion in client assets and a market share of 21 per cent in the managed accounts arena, according to the firm.

Earlier in his career Walker spent more than 20 years with Merrill Lynch Global Wealth Management, and during his tenure had been chief administrative officer for its global private client business, complex manager in Wellesley, Massachusetts and Norfolk, Virginia and Midwest regional sales manager. He began his career in 1985 as a financial advisor.