In an effort to boost its digital capabilities and develop a proposition for younger high net worth clients, Morgan Stanley has swooped for a key executive from a rival firm.
Naureen Hassan has joined the company from Charles Schwab and has taken the position of chief digital officer for wealth management. It is the latest in a series of moves from major brokerages – including the likes of Voya Financial and Citigroup – for leading executives who work on digital platforms.
According to reports, Morgan Stanley hopes to secure younger, high net worth clients with a digital platform that is designed to attract youthful investors.
It has also been rumoured that the company may be looking to introduce a robo advisor in the near future.
Hassan is expected to report to Andy Saperstein and Shelley O’Connor, the co-heads of wealth at the company. Her move represents another significant appointment within Morgan Stanley, after a series of arrivals earlier in the month. Jim Rosenthal, chief operating officer, was also appointed to lead the company’s digital services.
Meanwhile, back at Schwab, Neesha Hathi, who was previously the head of performance technologies, will take Hassan’s position.