Morgan Stanley has appointed Salvatore Cucchiara as its new head of wealth management technology, effective immediately, a spokesperson told thewealthnet.
Based in New York, Mr Cucchiara will report to Robert Rooney, head of technology at the bank and chief executive of Morgan Stanley International. He will oversee critical initiatives, including enhancements to desktop, mobile and investment systems while focusing on ensuring platform stability, speed, and cyber security.
Having joined Morgan Stanley in 2016, Mr Cucchiara was previously a managing director in the technology group. Prior to that he spent 18 years at Merrill Lynch where he helped build and maintain their wealth management platform.
Mr Cucchiara will be replacing Christopher Randazzo, who will be joining Rockefeller Capital Management.
Headquartered in New York, Morgan Stanley has $2.4 trillion in client assets under advisement and 15,712 financial advisers, as of the end of 2017.