Jonathan Chenevix-Trench Named COO of ISG; Walid Chammah Appointed Chairman of Morgan Stanley Intl.
WEBWIRE – Friday, July 27, 2007
Cordell Spencer and Paul J. Taubman named Global Co-Heads of Investment Banking.
Morgan Stanley (NYSE: MS) announced today that Jonathan Chenevix-Trench has been appointed to a newly created role as Chief Operating Officer of the Institutional Securities Group (ISG). Mr. Chenevix-Trench, 46, will work closely with Co-President Zoe Cruz on the day-to-day management of ISG, drawing on more than 20 years of experience in all aspects of the Firm's institutional securities businesses. Jonathan will also be responsible for Latin America. He will continue to report to Ms. Cruz in this new role and split his time between London and New York.
Walid A. Chammah will succeed Mr. Chenevix-Trench to become Chairman and Chief Executive Officer of Morgan Stanley International. Mr. Chammah, 53, who is the Global Head of Investment Banking, will oversee all of the Firm's operations in Europe, the Middle East and Africa. He will continue to report to Ms. Cruz, while relocating to London from New York.
Morgan Stanley Chairman and Chief Executive Officer John J. Mack commented, "In their new roles, Jonathan and Walid will help us build upon the growth of our institutional businesses, strengthen regional authority outside the U.S. and sharpen our focus on global clients."
Following Mr. Chammah's appointment, Cordell Spencer, 44, and Paul J. Taubman, 46, have been named Global Co-Heads of Investment Banking. Mr. Spencer was previously Head of U.S. Investment Banking, while Mr. Taubman was Global Head of Mergers and Acquisitions.
"Cory and Paul are among the finest bankers in the business and have complementary skill sets that will greatly benefit the Firm and our clients," Ms. Cruz said. "I am confident they will be able to build on the strong momentum we have built in investment banking, which just produced record quarterly results."
As part of the reorganization, Gavin MacDonald will become Global Head of Mergers and Acquisitions. Mr. MacDonald will continue to be based in London.
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 600 offices in 32 countries. For further information about Morgan Stanley, please visit www.morganstanley.com.