Prior to joining Morgan Stanley, Wilkins served as chief executive of diversified businesses at AT&T, a position from which he retired in March last year. Before that, Wilkins held a number of senior roles at AT&T and its predecessor company, including group president and CEO of SBC Pacific Bell, and president and CEO of Southwestern Bell Telephone, among others.

In addition, Wilkins currently serves on the boards of Valero Energy Corporation, América Móvil and YP Holdings.

Wilkins’ appointment will bring the size of Morgan Stanley’s board to 15 members.  He will serve on the board’s nominating and governance committee.

Last month, Morgan Stanley reported that pre-tax income from continuing wealth management operations soared 60 per cent to $655 million at the end of June 2013, up from $410 million a year ago. During this year's second quarter, pre-tax income rose 10 per cent from $597 million.