Raj Dhanda, head of investment products and services at Morgan Stanley Wealth Management, is leaving the bank to pursue other opportunities.

The head of investment products and services at Morgan Stanley Wealth Management, Raj Dhanda, is leaving after 26 years at the bank.

Dhanda, who took on that role last year, plans to “pursue other opportunities,” Family Wealth Report understands. There has been no mention by the firm about a successor. 

Before his most recent position, Dhanda worked within Morgan Stanley's capital markets unit, which he joined in 1989 and became co-head in 2008.

As previously reported by this publication, his 2015 role change was part of an effort by James Gorman, Morgan Stanley's chief executive, to give executives experience in various areas of the firm. “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,” Gorman said at the time.

Dhanda took the reins from Andy Saperstein, who became co-chief operating officer of the investment banking and trading unit.

Last month, Saperstein was named as co-head of Morgan Stanley Wealth Management, along with Shelley O’Connor. Greg Fleming, then head of wealth management, announced his departure following Colm Kelleher's promotion to president (see more here).

“Gorman has sought to increase cooperation between the firm’s investment bank and brokerage as he relies more on the wealth management unit and its $2 trillion of client assets to drive profitability,” Bloomberg reported yesterday.

Meanwhile, in other recent news at Morgan Stanley Wealth Management, the firm brought in former Charles Schwab executive Naureen Hassan as chief digital officer at the end of January. This is a new role at the company in which Hassan will lead the strategy and marketing of digital tools and platforms serving its 16,000 financial advisors and 3.5 million clients. She starts on March 1.