McColgan to join Morgan wealth unit
Ellyn A. McColgan was named president and COO of Morgan Stanley’s global wealth management group,
Ellyn A. McColgan was named president and COO of Morgan Stanley’s global wealth management group, starting in April, said Morgan Stanley spokesman James Wiggins. She replaces James P. Gorman, who was recently named co-president of Morgan Stanley in a wide-ranging executive-suite shake-up.
The announcement marks Ms. McColgan’s return to the asset management industry following her abrupt departure from Fidelity Investments on Aug. 7, only a few months after her elevation to the new position of president of distribution and operations had handicappers calling her a leading candidate to replace Fidelity Chairman Edward “Ned” Johnson.
Ms. McColgan’s departure was announced the same day Fidelity officials said Mr. Johnson had brought back former Fidelity veteran Rodger A. Lawson as president of FMR.
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