Morgan Stanley appoints new investment banking co-heads


NEW YORK (Reuters) – Morgan Stanley has named Eli Gross and Simon Smith as new global co-heads of investment banking, as part of a management shakeup at the helm of one of the investment advisory groups. Wall Street’s most powerful transactions.

Current heads of the investment bank, Mark Eichorn and Susie Huang, have been named executive chairmen of the division to lead a newly formed group of senior bankers, according to an internal memo seen by Reuters. A bank spokesperson confirmed the contents of the note.

In their new roles, Einhorn and Huang will be responsible for deepening the bank’s trading efforts across industry groups and geographies, according to the memo.

Smith has spent the past seven years running Morgan Stanley’s European investment banking franchise, the memo says. Gross ran the investment bank for transportation, freight, logistics and infrastructure, according to his Linkedin profile.

The new heads of the investment bank will continue to work closely with Mo Assomull, who will continue to lead global capital markets, the memo said.

Morgan Stanley has advised on several high-profile transactions this year, including Broadcom’s $69 billion acquisition of VMWare. He also advises Elon Musk, who signed a deal to buy Twitter for $44 billion earlier this year, before announcing last week that he no longer wanted to pursue the deal.

The management reshuffle comes at a time when trading is facing a near-term slowdown amid fears of a recession. Mergers and acquisitions (M&A) volume fell sharply in the first half of the year as Russia’s invasion of Ukraine rattled global markets.

M&A volumes fell by a quarter to $1 trillion, according to Dealogic.

The Financial Times reported on the changes at Morgan Stanley earlier on Monday.

(Reporting by Saeed Azhar in New York; editing by Jonathan Oatis)

Copyright 2022 Thomson Reuters.


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