Pavlos Bailas, the new head of wealth management for Europe, the Middle East and Africa at Morgan Stanley, looks like a solid pick by the private bank as it chases ultra-high net worth clients in the regions.

Bailas, who is half-German and half-Greek and has been at Morgan Stanley for 18 years, was this morning named as the new head of the bank's Private Wealth Management business in Emea. He already has three important strings to his bow.