The moves, effective December 1, will free up productive senior bankers to focus on clients in their sectors and regions, Walid Chammah, global head of investment banking, said in the memo.
"We are confident that these personnel changes, together with a more streamlined organisational structure, will position IBD globally to achieve our goals of driving revenues and profitability growth in the most effective and efficient manner," he wrote.
A Morgan Stanley spokeswoman confirmed the memo. Morgan Stanley named new managers for four industry coverage groups. At the same time, senior bankers Christopher Harland, Jeff Holzschuh and Michael Zaoui were named vice chairmen in institutional securities. In the investment banking division, Dominique Lancksweert will chair a senior client group comprised of a small number of senior bankers "with client relationships and influence at the highest levels in Europe," Chammah said.
Nelson Walsh, Derek Kirkland and Kirk Wilson will be vice chairmen of investment banking, focusing on clients. In corporate finance, Alan Jones was named chairman with his main focus on clients, particularly financial sponsors. Jason Milazzo was named head of the corporate finance group.
The firm's financial sponsors group, which covers buyout firms, will be led by Mark Bradley while the basic materials group will now be managed by Carl Contiguglia.
Ruth Porat will be head of Morgan Stanley's global financial institutions group, with Eric Bischof chief operating officer. Gonzalo Gortazar will be head of FIG in Europe, while Donald Moore will be chairman of FIG as well as chairman of Morgan Stanley Group Europe.
Stuart Epstein and Andrew Tisdale were named co-heads of the global media and communications, with Harland to be chairman. Finally, Jonathan Grundy and David Nastro were named co-Heads of the firm's power and utilities group. Holzschuh was named chairman. Morgan Stanley created an investment banking operating committee with seven executives which will streamline decision making compared with the existing, much-larger management committee.
The new committee includes Chammah, Cordell Spencer, Colm Kelleher, Franck Petitgas, Paul Taubman and, on an alternating basis, John Carrafiell and Jay Mantz. In other changes, Chammah named Spencer, his deputy, co-head of global coverage, along with Europe IBD head Petitgas. The firm also said all M&A bankers will report directly to global M&A head Taubman.
As part of that move, Gavin MacDonald will expand his responsibilities to include Asia as head of M&A Europe and Asia; Michael Boublik and Mark Eichorn were named co-heads of M&A in the Americas; Scott Matlock was named global head of the newly created media and communications M&A group.