Morgan Stanley Replaces COO

NEW YORK ( TheStreet) -- Morgan Stanley ( MS) executive Jim Rosenthal added the title of chief operating officer to his lengthy list of responsibilities at the giant securities firm, according to an internal announcement from CEO James Gorman Tuesday morning.

Rosenthal's promotion is part of a management reshuffling as his predecessor, Tom Nides, leaves for a senior position at the U.S. State Department.

Rosenthal is currently head of corporate strategy and has been overseeing the integration of Morgan Stanley Smith Barney, after Morgan Stanley bought a controlling stake in the wealth management business from Citigroup ( C) at the start of 2009.

In addition to assuming the COO role, he will be responsible for firmwide operations and technology, human resources, corporate communications, firmwide marketing, community affairs and corporate services, according to the announcement.

Also gaining responsibilities are CFO Ruth Porat, who will oversee the Global Sustainable Finance Group, and Chief Legal Officer Frank Barron, who will take charge of government relations.

Morgan Stanley's Gorman had a difficult first year stepping in for John Mack, an outsized Wall Street personality who has stayed on as Chairman.

Shares of Morgan Stanley have underperformed those of many other large banks in 2010, including Goldman Sachs ( GS) JPMorgan Chase ( WFC) and Wells Fargo ( WFC), though Gorman's first year as CEO was not nearly as tough as that of Brian Moynihan, his counterpart at Bank of America ( BAC).

-- Written by Dan Freed in New York.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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