According to the investment bank, Mr Barron will replace Gary Lynch, who announced his decision to step down from the role in February.
The latter is to continue in his role as a vice-chairman at the institution as well as maintain his work as a board member of Morgan Stanleyâs European subsidiaries.
Mr Barron will be based in New York, join the firmâs Operating and Management Committees and report directly to James Gorman, Morgan Stanleyâs chief executive officer (CEO)
Mr Gorman said: âFrank Barron has been a well respected advisor to boards and senior managements on critical issues, particularly in financial services, for over 30 years.
âWe look forward to benefiting from Frank's advice and wisdom, and we are very pleased he is joining our senior management team.â
The bank also announced that Eric F Grossman, general counsel of the Americas and Morgan Stanley Smith Barney as well as global head of Litigation is also to be appointed to the investment bankâs management committee.
By Jim Ottewill