Morgan Stanley Smith Barney has appointed James Walker as new managing director of Consulting Services, a provider of investment consulting and managed account services.

Walker will succeed James Tracy, who was named in July as bank’s chief operating officer of distribution and development for Wealth Management in the US.

Walker will continue to report to head of the Investment Strategy and Solutions Group Paul Hatch.

Walker most recently served as chief operating officer of Investment Strategy and Solutions at Morgan Stanley Smith Barney.

Prior to this role, he was director of Finance, Risk and Strategy for Citi Global Wealth Management Investments. Earlier, he held a succession of leadership positions over 20 years with Merrill Lynch’s Global Wealth Management Group.

Hatch said that Walker’s extensive industry experience, deep knowledge of consulting services and close rapport with financial advisors and clients make a great leadership combination.