June 27, 2011 / 5:36 PM / 6 years ago

Morgan Stanley hires 2 JPMorgan industrial bankers

2 Min Read

* Rick Polhemus and Mike Groeninger will be based in S.F.

* Reporting to Jeff Hogan, head of Western Region IB

By Nadia Damouni

NEW YORK, June 27 (Reuters) - Morgan Stanley (MS.N) has added two JPMorgan Chase & Co (JPM.N) industrial bankers to join its West Coast team, two sources familiar with the situation said.

Rick Polhemus and Mike Groeninger will join as managing director and vice president within Morgan Stanley's industrials group. They will both be based in San Francisco and report to Jeff Hogan, head of Morgan Stanley's Western Region Investment Bank.

Morgan Stanley and JPMorgan declined to comment.

JPMorgan has seen a shuffling of its West Coast bankers in recent months.

In May, JPMorgan lost two bankers within the technology team at JPMorgan: Mark Solomons joined Morgan Stanley's technology group based in Menlo Park, California, and Akhil Ahuja, based in San Francisco, moved to Wells Fargo & Co (WFC.N) affiliate Wells Fargo Securities.

That same month, the bank hired the former head of technology mergers and acquisitions at Barclays Plc's Barclays Capital, Drago Rajkovic, who will join in August.

Earlier this year, Faisal Chughtai and Sarah Anderson joined the firm's Internet and digital media group from Royal Bank of Canada's (RY.TO) RBC Capital Markets. They are both based in San Francisco. (Reporting by Nadia Damouni, editing by Gerald E. McCormick)

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