Michael Marchassalla, who is the managing director and complex manager for some of Morgan Stanley Wealth Management’s most profitable offices in New York, has left after spending more than 20 years at the firm.

Morgan Stanley confirmed the departure to Family Wealth Report.  

Another executive, John Algeri, who was a service manager at one of the offices managed by Marchassalla and had been with the company for 18 years, has also left Morgan Stanley Wealth Management.

Marchassalla's duties will be divided up between two other complex managers. Morgan Stanley said the departures are not part of broader changes.

Marchassalla, a veteran Smith Barney broker, joined Morgan Stanley when it began absorbing Smith Barney in 2009.