Morgan Stanley sees execution risks at Westpac amid executive exodus

** Analysts at Morgan Stanley believe risks pertaining to execution at Australian lender Westpac WBC will be higher in 2025 than they were in 2024

** WBC, last week, announced that Jason Yetton, its chief for the consumer business, had decided to leave the bank

** Brokerage notes that Yetton stepping down means there have been four senior management changes lately, including CEO, CFO, head of consumer and head of business and wealth

** Brokerage hails Yetton's leadership, adds consumer banking franchise performance improved under his leadership since August 2023

** Morgan Stanley has a "underweight" rating on stock and A$29.2 price target

** Stock down 5.4% YTD