In a strategic move towards solidifying its position at the forefront of artificial intelligence (AI) innovation, Morgan Stanley has appointed Jeff McMillan as its first-ever Head of Firmwide Artificial Intelligence.
McMillan brings a wealth of experience and a proven track record of success to this newly created role. He previously led the analytics, data, and innovation unit within Morgan Stanley Wealth Management. Under his leadership, he played a pivotal role in developing the firm’s game-changing Modern Wealth Management platform and spearheaded the creation of an internal AI-powered chatbot for advisors through an exclusive partnership with OpenAI.
Reporting directly to co-presidents Andy Saperstein and Dan Simkowitz, McMillan will spearhead the development and implementation of a comprehensive AI strategy across the entire Morgan Stanley enterprise. He will focus on fostering collaboration between various business units and infrastructure teams to identify and prioritize the most promising AI opportunities.
McMillan’s mission extends beyond identifying opportunities. He will also be responsible for ensuring Morgan Stanley adheres to responsible AI practices by establishing robust governance frameworks. This balanced approach ensures that the firm leverages the power of AI responsibly and ethically.
“I’m grateful to Morgan Stanley leadership for their forward-thinking approach,” said McMillan. “This initiative allows us to deliver cutting-edge AI capabilities in a thoughtful and responsible manner.”
