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Morgan Stanley Appoints Paul Halpern Head of Deposits and Banking Services

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Former Betterment Chief Marketing Officer to Lead Cash Management and
Deposit

Morgan Stanley today announced the appointment of Paul Halpern as Head
of Deposits and Banking Services for the Morgan Stanley Private Banking
Group in which he will lead the Firm's Cash Management and Deposits
strategy and execution. Halpern will also work closely with Paul
Vienick, Head of Morgan Stanley Online/Mobile and Digital Banking, on
the development of the Firm's digital banking products and solutions and
team with Financial Advisors to help them better engage with clients to
offer the full range of wealth management services. Morgan Stanley has
been making significant investments in leading tools and technology over
the past year that significantly enhance the client-Financial Advisor
relationship and show that it is the technology-enabled Financial
Advisor that will lead the industry forward. Halpern will report to Eric
Heaton, Head of Morgan Stanley's Private Banking Group.

"Paul is a talented financial services executive who has a strong
background in full service, Financial Advisor-centric business models.
He has first-hand knowledge of the primary importance of the Financial
Advisor in serving the broad requirements of clients. We are delighted
to have him join the Morgan Stanley team," said Eric Heaton.

Halpern joins the Firm from Betterment, where he served as Chief
Marketing Officer since 2017. Prior to that, he held a succession of
management positions at Bank of America/Merrill Lynch, including Head of
Merrill Lynch Segment and Brand Marketing, since joining the company in
2013. He also served as Executive Vice President in a variety of roles
covering Banking and Investing Product and Site Marketing at E*Trade
Financial Corp. Halpern has an undergraduate degree from Tufts
University and a Master's in Business Administration from Harvard
Business School.

"I am very excited to join Morgan Stanley, the leader in Wealth
Management. Having experienced a range of different models, it's clear
that the future of wealth management is the combination of
industry-leading technology and world-class personalized financial
advice, and Morgan Stanley is strongly positioned to deliver this unique
combination of value to their clients. I look forward to working closely
with Financial Advisors to help them broaden relationships with their
clients, particularly in regard to the Firm's full suite of banking
services," said Halpern.

Morgan Stanley is a leading global financial services firm providing
investment banking, securities, wealth management and investment
management services. With offices in more than 41 countries, the Firm's
employees serve clients worldwide including corporations, governments,
institutions and individuals. For more information about Morgan Stanley,
please visit www.morganstanley.com.

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