The Investment Solutions Product Development team at Morgan Stanley Wealth Management is expanding, and they need a product development manager to help them with over $900 billion in AUM.
According to a job ad on LinkedIn, the financial behemoth Morgan Stanley is seeking a product development manager with a particular emphasis on developing a diverse array of new crypto products across business lines.
The job was advertised on August 1, and it will be a part of the Investment Solutions Product Development team, which provides a wide variety of services to “support” the management of exchange-traded funds, mutual funds, money market funds, 529 college savings plans, and other assets totalling more than $900 billion.
In particular, the product manager would be primarily responsible for generating packaged items and indexes.
According to an executive at the asset management business Bitwise, the product manager role indicates Morgan Stanley’s desire to provide these FAs with a broader range of options. To be clear, introducing a new index-based investment product or exchange-traded vehicle would enter a crowded market that includes companies like Invesco-Galaxy, Fidelity, Grayscale, and many more.
Bitwise’s chief executive officer, Hunter Horsley, said that the ad’s background is crucial but urged prospective watchers to temper their excitement.
“Hiring a mid-level employee to work on such a project does not ensure that the product will reach the market,” said Horsley.
The job advertisement also says that over 200 asset management companies might use the company’s crypto product solutions.
Among the tasks of this position include finding chances to encourage financial adviser product use “including speaking at home-office sponsored, branch and industry events,” “sourcing product development possibilities across all investment strategies,” and “partnering with more than 200 asset management companies to explore strategies that will improve the overall quality of the platform.”