Donald Herrema has been appointed head of Morgan Stanley's private wealth management unit in the Americas and president of Morgan Stanley Trust Company. Mr Herrema will oversee all aspects of sales management, business development and client relationship activities for both US and Latin America private wealth management, said James Gorman, Morgan Stanley's global wealth management division president, in an internal memo. "We are committed to building the leading ultra-high net worth business within a more fully-integrated Global Wealth Management Group," he said. Mr Herrema, who will take up his new post on May 1, was chairman, president and chief executive at Canadian wealth manager Loring Ward International. He was also previously chief executive of Atlantic Trust, a private wealth management unit of AMVESCAP.