Chammah, 53, was named global head of investment banking in July, while Gorman, 49, runs the global wealth management group.
"Morgan Stanley has seen a huge shift to global wealth management, which should pay off, " said Bernie Williams, a vice president at USAA Investments.
Before he took the top operating job at the CAI division, he held the same job at Citi's Global Wealth Management division, beginning in July 2006.
You see, while Mr. Lew's future colleagues at the CAI division were cooking up toxic investments, some of his Global Wealth Management colleagues were feeding them to investors.
Until his appointment to the top job, Rohner, who has a PhD in economics from the University of Zurich, was the head of the bank's Global Wealth Management and Business Banking division.
However, if the company is able to leverage its strong global wealth management expertise and successfully further its growth initiatives in the Asia Pacific region, there can be an upside to our forecasts.
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Morgan Stanley is undergoing a significant strategic shift in its business, with the stated goal of reducing volatility from traditional investment banking activity and generating more stable fee income streams from Global Wealth Management.
One of the most powerful women in the business world, Cruz oversaw Morgan Stanley's institutional securities businesses, including investment banking and sales and trading, as well as the firm's global wealth management business.
However, Dan Sontag, president of the global wealth management group at Merrill Lynch--now part of Bank of America--said in a press conference that the downturn is slowing and that the affluent are starting to spend yet again.
However, Lew became increasingly numbers focused, serving as the Associate Director for Legislative Affairs and Deputy Director of the Office of Management and Budget and later, the managing director of Citi Global Wealth Management and chief operating officer Citigroup Alternative Investments.
"Of the expected... redundancies, approximately 45% will come from the investment bank, 35% from wealth management and Swiss bank, 10% from global asset management, and 10% from wealth management Americas, " the bank said in its statement.
She previously led the Global Wealth and Investment Management.
Alex Pigliucci, global managing director of Accenture wealth management services, said social media creates a huge opportunity for firms that get it right and a real risk for firms that regard it mostly as a threat.
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"It's not going to be a matter of years but over the next one or two decades that the standard of living becomes more uniform across the European Union, " and wages in Eastern Europe catch up with the West, says Brian O'Reilly, director and global equities strategy at UBS wealth management.
Andrew Fisher is president and chief investment officer of Maxim Global Wealth Advisors, an independent wealth management firm providing tax-efficient investment strategies and retirement planning.
This article is by Alex Pigliucci, the global managing director of Accenture Wealth and Asset Management Services.
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