Morgan Stanley Boosts Private Banking Unit

Morgan Stanley has appointed Michael Brakey as head of high net worth lending, The Wall Street Journal reports. Brakey will be responsible for leading the development of lending products, including commercial and securities-based loans, in the private banking sector.

He will work under Shelley O’Connor, CEO of Morgan Stanley Private Bank. Most recently, Brakey served at Merrill Lynch as head of global wealth credit strategy and investment lending.

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