Morgan Stanley is shaking up the executive ranks.

The wirehouse named Eric Benedict to head its private wealth management business, and Vince Lumia head of capital markets, according to internal memos sent this week. Benedict, an 18-year industry veteran, and previously head of capital markets, will report jointly to Shelley O'Connor and Doug Ketterer. O’Connor is head of field management. Ketterer heads strategy and client management.

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