Richard A. Skae, most recently vice chairman of Morgan Stanley’s wealth management group, has passed away, according to an internal company memo obtained by InvestmentNews. Skae was 65
"Rick’s charismatic personality and unbridled optimism made him a natural leader," Andy Saperstein, head of Morgan Stanley Wealth Management, wrote in the memo. "His big heart and empathetic nature enabled him to positively impact the lives of many, whether it was as a mentor, confidante or friend."
Skae was the former head of the group’s eastern division and served on several top management committees.
He began his career as an account executive at Kidder Peabody in 1981 and held positions at Donaldson Lufkin & Jenrette, PaineWebber and Merrill Lynch before joining Morgan Stanley in 2006.
According to the memo, Skae is survived by his mother Phyllis, his wife Cherie and his daughter Elizabeth.
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A great man died recently, but this did not make headlines. In fact, it barely even made the news. Maybe it’s because many have already mourned the departure of his greatest legacy: the 60/40 portfolio.
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