Morgan Stanley Smith Barney hired Jeff Hack from JPMorgan Chase & Co. as its chief operating officer, one of several organizational changes announced by the firm's new president, Gregory Fleming.
In an internal memo, Fleming — also head of Morgan Stanley's asset management unit — said Hack will "oversee the ongoing technology/operations integration activities."
Morgan Stanley is in the midst of integrating its brokerage with that of Citigroup Inc.'s legacy Smith Barney unit.
Hack will take on the responsibilities of Jim Rosenthal, who was previously the firm's COO, but took on a similar role for the entire investment bank in January. Hack will also be responsible for global risk management and will report to Fleming.
Before joining Morgan Stanley, Hack was COO of JPMorgan Chase's worldwide securities services business and formerly held the same position in its global private banking and private wealth management unit. He previously spent 10 years with Smith Barney.
Among other personnel moves, Fleming named Craig Pfeiffer, head of marketing and client experience, as vice chairman of Morgan Stanley Smith Barney.
Fleming also said Ben Huneke, head of the office of business management for wealth management in the U.S., will become head of strategy and business management for Morgan Stanley Smith Barney.
Additionally, Fleming said he has asked Michael Armstrong to focus solely on his responsibilities as head of capital markets. The unit's international operations will now report directly to Fleming's office.
