Morgan Stanley has shifted the roles of several top executives as the firm sets out to strengthen its international presence, according to a company memo from Morgan Stanley CEO James Gorman obtained by On Wall Street.
In the memo, Gorman announces that Colm Kelleher, co-president of institutional securities, will relocate to London and assume new responsibility for Europe, the Middle East and non-Japan Asia. The heads of those regions will report to Kelleher, who will also have responsibility for the firm’s global sales and trading business.
Paul J. Taubman, also co-president of institutional securities, will remain in New York and expand his role to oversee Latin America, one of Morgan Stanley’s fastest growing regions, according to Gorman, and Japan. The heads of those regions will report to Taubman. As co-president of institutional securities, Taubman will oversee the global investment banking and capital markets businesses.
Walid Chammah is set to continue as chairman of Morgan Stanley International reporting to Gorman. In that role, Chammah will focus exclusively on high priority clients.
“These respective roles for Colm, Paul and Walid will ensure that we are leveraging our most experienced leaders in the best way possible to support the growth of our international franchise. All three will remain on both the operating and management committees,” Gorman said in the memo.
Morgan Stanley’s move comes after the firm named Jim Rosenthal to the role of chief operating officer earlier this month.