(Corrects Eichorn's previous title in fourth-last paragraph to
head of M&A in the Americas)
By Lauren Tara LaCapra
Dec 14 Morgan Stanley has promoted
several senior bankers to positions overseeing mergers and
acquisitions in the United States and Europe, following a
shakeup at the top level of that division last month.
Bob Eatroff and Jim Head were named co-heads of M&A in the
Americas, while Colm Donlon and Johannes Groeller were named to
the same positions in Europe, Middle East and Africa.
Morgan Stanley also named Susie Huang and Michele Colocci as
vice chairmen of investment banking. Colocci had been head of
European M&A and will remain chairman of M&A in that region.
The appointments were announced in internal memos reviewed
by Reuters, and take effect Jan. 1.
Morgan Stanley spokeswoman Mary Claire Delaney confirmed the
contents of the memos.
Last month, Morgan Stanley announced that Paul Taubman, the
firm's top investment banker who co-headed the entire
institutional securities division, was leaving, with
responsibilities to be consolidated under his counterpart, Colm
At the same time, Mark Eichorn and Franck Petitgas were
promoted to co-heads of the investment banking unit. The
promotion of Eichorn, who had previously overseen M&A in the
Americas, left that job unfilled, while Colocci's move created
an opening in Europe.
Like competitors across Wall Street, Morgan Stanley is
dealing with a sharp slowdown in M&A and other advisory work.
The bank ranked second place in global M&A during the first
three quarters of 2012 and brought in $915 million from its
advisory business during the first nine months of this year,
down 31 percent from the same period in 2011.
Morgan Stanley's investment banking business, which also
includes stock and bond underwriting, has delivered $2.7 billion
in year-to-date revenue, down 19 percent from a year ago.
(Reporting by Lauren Tara LaCapra; Editing by Phil Berlowitz)