In Another Morgan Stanley Shuffle, Consulting Group’s Jason Moore Departs
Another month, another management shift within Morgan Stanley Wealth Management’s executive ranks.
Jason Moore, who in June became cohead with Jed Finn of the highly profitable managed accounts platforms and solutions business known as The Consulting Group, resigned earlier this week, according to multiple sources.
The move comes as Jim Tracy, one of last remaining Smith Barney executives at Morgan Stanley, was restored in February to his position running The Consulting Group after nine months in which he was doing ambassadorial work as a “vice chairman.”
Finn was reposted last November to chief operating officer of the entire wealth management division.
The highly profitable Consulting Group — which manages $795 billion in fee-based wrap programs — was created at Smith Barney and is a key reason why Morgan Stanley CEO James Gorman has said he purchased the brokerage firm from Citigroup.
Tracy announced Moore’s departure in a conference call Tuesday, a Consulting Group source said. A Morgan Stanley spokesman confirmed the move, saying that Moore is joining an outside asset management firm so he can be closer to his family in Delaware. The spokesman did not name the firm and Moore did not respond to a request for comment.
With the exception of a 5-month stint with Merrill Lynch in 2009 and 2010, Moore has spent his entire securities industry career at Citi and Morgan Stanley, according to his BrokerCheck record. Born in 1972, he joined Citi in Wilmington, Del., in 1995.
Since his promotion to co-head The Consulting Group in a , Moore has spent much of his time in New York. His stint at the top coincided with a storm of change at the brokerage giant. Greg Fleming resigned as head of Morgan Stanley Wealth Management in January and was replaced by Andy Saperstein and Shelley O’Connor, who quickly put in their own team of lieutenants and restored Tracy to power.