Morgan Stanley , owner of the world’s largest brokerage, named Colm Kelleher to lead operations in Europe, the Middle East and Asia outside Japan, while Paul J. Taubman will take on responsibility for Latin America and Japan.
Colm Kelleher, who will take over as sole head of Morgan Stanley’s investment bank as his counterpart and past rival Paul J. Taubman exits, now faces the challenge of improving returns at the firm’s biggest business.
Morgan Stanley, owner of the world’s biggest brokerage, rose the most in seven months after earnings from that business more than doubled and the firm reached profit-margin targets six months ahead of schedule.
James Gorman strides across the stage of the auditorium on the top floor of Morgan Stanley’s Times Square headquarters. It’s late October, and he’s in the midst of the second investor revolt he’s been through in three years -- the first one coming during the financial upheaval of 2008.
Morgan Stanley, the second-ranked adviser of announced mergers this year, named Bob Eatroff and Jim Head co-chiefs of mergers and acquisitions in the Americas as the firm reshapes its investment bank’s leadership.