Morgan Stanley named Shelley Hanan chief executive of its private bank, a month after she assumed the role on an acting basis, and hired Mark Connolly, a Citigroup veteran, to a new position as head of products for the unit.

In an internal memo reviewed by Dow Jones Newswires, Jim Rosenthal, chief operating officer of Morgan Stanley Smith Barney, announced the leadership appointments to all employees of the investment bank's brokerage joint venture.