Morgan Stanley

Morgan Stanley Smith Barney Names James F. Walker Head of Consulting Services

Sep 9, 2010

New York —

Morgan Stanley Smith Barney today announced the appointment of Managing Director James F. Walker to head Consulting Services, the industry-leading provider of investment consulting and managed account services.

Mr. Walker, 47, succeeds James J. Tracy, who was named in July as Chief Operating Officer of Distribution and Development for Wealth Management in the U.S., Morgan Stanley Smith Barney.  Mr. Walker will continue to report to Paul Hatch, Head of the Investment Strategy and Solutions Group.

"Jim Walker's extensive industry experience, deep knowledge of Consulting Services and close rapport with Financial Advisors and clients make a great leadership combination.  I look forward to working with him as we drive investment excellence and build on the historic leadership of our Consulting Services Group," said Mr. Hatch.

With over $385 billion in client assets, Consulting Services is the U.S. wealth management industry's managed accounts leader, with a market share of nearly 21%.  It also leads in several of the fastest growing managed account categories, including rep as portfolio manager (35.3% market share) and unified managed accounts (33.8% market share).  (Source: Cerulli Associates 2Q 2010 Summary, August, 2010).


Mr. Walker most recently served at Morgan Stanley Smith Barney as Chief Operating Officer of Investment Strategy and Solutions, with responsibility for strategy, coordination and overall business leadership.  Prior to this position, he was Director of Finance, Risk and Strategy for Citi Global Wealth Management Investments, having joined Citi in 2006 as COO of Investment Advisory Services.

Earlier, Mr. Walker held a succession of leadership positions over 20 years with Merrill Lynch's Global Wealth Management Group, including Chief Administrative Officer for the Global Private Client business, complex manager positions in Wellesley, MA and Norfolk, VA, and Midwest regional sales manager.  He began his career in 1985 as a Financial Advisor in Washington, D.C. and Northern Virginia.

He received his B.A. in economics from Catholic University of America, and attended the Massachusetts Institute of Technology as a Sloan Fellow, where he received a S.M. in management science and continues as a lecturer.  He is a Certified Investment Management Analyst and member of the Investment Management Consultants Association.

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