Feb 28 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
A Morgan Stanley spokeswoman confirmed the contents of the
Simkowitz will run the group alongside current head Raj
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.
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.