Morgan Stanley has reshuffled its leadership within its wealth management and capital markets businesses.

In a move to build on the strong connection between its two biggest areas of business, Morgan Stanley has made senior appointments within its leadership team, according to a memo obtained by Family Wealth Report and confirmed by a spokesperson.

“Cross-pollinating key leaders across our major businesses further knits the Morgan Stanley culture and enhances our ability to deliver the entire firm for the benefit of our clients,” said James Gorman, chief executive at the firm.

Raj Dhanda, currently co-head of global capital markets, will become head of investment products and services in wealth management, reporting to Gregory Fleming, president of Morgan Stanley Wealth Management.

Andy Saperstein, currently head of investment products and services, will become co-COO of the institutional securities group. Saperstein joined Morgan Stanley in 2006 as COO of national sales in wealth management and later served as head of field management and US private wealth management before taking up his current role. He will continue to sit on the operating committee.

Mo Assomull, currently co-chief operating office of the institutional securities group, will become co-head of global capital markets, along with Dan Simkowitz. 

Meanwhile, Clare Woodman, co-chief operating officer of the institutional securities group, has been appointed to the operating committee, while Mandell Crawley, head of marketing, and Kathleen McCabe, join the management committee.