Morgan Stanley shuffles senior executives

10 January 2011

Morgan Stanley has unveiled a reshuffling of responsibilities among its top executives, an internal memo from the bank’s chief executive officer has revealed.

Colm Kelleher, co-president of institutional securities, will see his role expand to include responsibility for the Middle East, Europe and Asia outside of Japan, James Gorman’s message showed.

He is expected to relocate from New York to London to take on the extra duties in a move which many view as a reaffirmation of Morgan Stanley’s commitment to London as a global business hub.

The new post holder, who previously worked as the bank’s chief finance officer, is to be responsible for overseeing global sales and trading.

Walid Chammah, his predecessor, will stay in London and remain the chairman of Morgan Stanley International working only with the most important clients.

Paul Taubman, Mr Kelleher’s co-head, is to stay in the US but manage this area of Morgan Stanley’s business in Japan and Latin America.

Earlier in the week Jim Rosenthal, Morgan Stanley’s head of corporate strategy, was appointed as the financial institution’s new chief operating officer.

By Jim Ottewill

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