Morgan Stanley CAO Lisa Golia “Retires” After 3-month Stint
Lisa Golia, chief administrative officer of Morgan Stanley’s rambling wealth management business, is retiring after three months in the role, the company announced internally on Wednesday.
Golia, who began her 17-year Morgan Stanley career as a sales assistant, was promoted to CAO in February as part of a reorganization by newly installed wealth management co-heads Shelley O’Connor and Andy Saperstein. Her quick shift out comes amid a broader restructuring in areas she had run and throughout the wealth management organization.
“Her responsibilities as Chief Administrative Officer will be divided, with Field-facing activities reporting to [field chief operating officer] Barry Goldstein, and other administrative functions reporting to [wealth management chief operating officer] Jed Finn,” said the memo sent division-wide by O’Connor and Saperstein. “Lisa wishes to devote more time to her family and other interests and, while we will miss her greatly, we respect her desire to make a change at this time.”
Golia did not respond to a request for comment, and a company spokeswoman did not immediately say whether she had formally reached retirement age or why she is leaving.
Over her career, Golia, who is on the wealth unit’s management committee, had a range of roles, including “all facets of field and client communications, policies and procedures, branch service quality, national events and training initiatives” for Morgan Stanley’s almost 16,000 brokers, according to her LinkedIn profile.
Her management committee assignments included overseeing “various firm-wide diversity initiatives including employee training, business development programs, management coaching, mentoring circles and client events,” according to the LinkedIn profile.
Her move comes as Morgan Stanley is restructuring its sales support staff organization and centralizing product development and training jobs from branches into its eight regions as part of a firmwide expense-reduction program.
Golia’s departure follows the unexpected departure of wealth management chief operating officer Sara Furber in January and of Raj Dhanda, a 26-year Morgan Stanley veteran who oversaw investment products and services for a year, in February.