NEW YORK, April 8 Six weeks after being named to
lead Morgan Stanley's brokerage force of more than 16,000
financial advisers, managing director Shelley O'Connor has
streamlined the sales organization and replaced some key
In a memo to the firm's wealth management division
employees, O'Connor said a tour of the branches at the world's
biggest brokerage convinced her that local managers need more
power, resources and the ability to work more efficiently.
She is shrinking the company's three geographic divisions in
the United States to two and trimming the regions that report to
the division heads to eight from 12.
Bill McMahon and Rick Skae remain as Morgan Stanley's two
division heads, running what are now known as the western and
eastern divisions, respectively.
Douglas Kentfield, who had run the western division since
the three-division structure was formed in July 2012, is leaving
the firm "to pursue other opportunities," according to the memo
that was sent to Reuters.
The four regional managers who are losing their positions -
Jeff Adams, John Campbell, Kevin Forman and Matthew Maloney -
"will explore new leadership roles" within the wealth management
"We wish all of them much success," O'Connor wrote in the
The changes are effective at the end of May.
O'Connor and the executives who are losing their positions
were not available to comment, a spokeswoman said.
(Reporting by Jed Horowitz; Editing by Jan Paschal)