Morgan Stanley hires wealth chief in Sydney

Matthew Comyn will join Morgan Stanley Smith Barney in late February as chief executive of its Australian wealth management business. He was previously managing director of Commonwealth Securities, the stockbroking arm of Commonwealth Bank of Australia. 

He replaces Tom Burns at Morgan Stanley Smith Barney, who stayed on for a few months to oversee the integration and has now returned to the US to assume a senior role with the firm.

Comyn, who has been with Commonwealth Securities for over a decade, will report to Steve Harker, Australia chief executive at Morgan Stanley. "We've hired the head of the biggest retail broker in Australia," says Harker, "which is a strong statement about our commitment to this business."