Morgan Stanley's Simkowitz promoted in capital markets -memo

Thu Feb 28, 2013 4:55pm EST

Feb 28 (Reuters) - Morgan Stanley's chairman of global capital markets, Dan Simkowitz, has been promoted to co-head of the department, according to an internal memo obtained by Reuters.

A Morgan Stanley spokeswoman confirmed the contents of the memo.

Simkowitz will run the group alongside current head Raj Dhanda.

Simkowitz has been previously mentioned as a potential chief financial officer at Morgan Stanley, as current CFO Ruth Porat is considered a leading contender for a role in the U.S. Treasury department.

Simkowitz was also one of the key bankers on the Facebook IPO, which drew scrutiny from investors. The shares sank following the company's public debut.

Morgan Stanley topped the league tables for global initial public offerings last year, according to Thomson Reuters data. The firm helped companies raise $10.3 billion in proceeds.

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