Morgan Stanley has made a number of senior appointments to its private wealth management business in Europe, the Middle East and Asia. M...

Morgan Stanley has made a number of senior appointments to its private wealth management business in Europe, the Middle East and Asia. Michael Durbin, head of international private wealth management, has been moved out of his position, said Morgan Stanley in an internal memo from James Gorman, the global head of Morgan Stanley’s wealth management business. Mr Durbin “will be pursuing new opportunities at Morgan Stanley,” said the memo. A spokesman for Morgan Stanley in London declined to comment on Mr Durbin's new position. Mr Durbin was appointed to the position last June after a number of high level departures from the bank during a period of turmoil, including Marianne Hay, the then head of Morgan Stanley’s European private wealth management business. His position will not be replaced, but instead will be split between regional directors. Alexander Classen, is now officially head of Morgan Stanley's European and Middle East private wealth management business after joining from Goldman Sachs last month. Mr Classen will also be responsible for Bank Morgan Stanley in Switzerland, Morgan Stanley Quilter in the UK and Morgan Stanley SV in Spain. Chris Van Aeken, head of risk management for Morgan Stanley's broader global wealth management group, will become chief operating officer for the firm's private wealth management worldwide. Charles Mak, head of private wealth management in Asia since 2001, will remain in that position.