Paul Weisenfeld, Morgan Stanley Smith Barney's managing director in the funds group has left the firm to join Perella Weinberg Partners in retail distribution. James Wiggins, a spokesman for Morgan Stanley, confirmed the departure and said the bank is looking forward to working with Weisenfeld in his new role, as Perella Weinberg is a distribution partner of Morgan Stanley's. His position at Perella Weinberg is a new one, as the firm is seeing a lot of opportunity in the retail sector, said Kara Findlay, a spokeswoman at the firm.

Weisenfeld has been with the bank for fourteen years and previously worked as chief operating officer at GWM Investment Products within Citigroup Global Wealth Management for eight years.

At Morgan Stanley, Weisenfeld was the director of mutual funds and ETFs in the firm's Investment Products group, according to his LinkedIn profile. His responsibilities included product management and strategy, due diligence and platform revenue. In addition to managing the business, he also oversaw the integration of Morgan Stanley and Smith Barney's business units.

Frank McDonnell, an executive director and head of mutual funds and 529 Programs in Morgan Stanley Wealth Management will be promoted to take over Weisenfeld's role. 

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