Morgan Stanley appoints Kitrick as deputy head of European trading

Morgan Stanley has promoted a long-serving dealmaker to its deputy head of its European investment banking unit, the latest senior change at the city’s U.S. bank.

Morgan Stanley senior mergers and acquisitions banker David Kittrick has been named Morgan Stanley’s deputy head of investment banking for Europe, the Middle East and Africa, according to people familiar with the matter.

He succeeds Jan Weber, who was named head of mergers and acquisitions at Emea in September, part of a series of changes at the investment bank Morgan Stanley in recent months.

Weber took over as head of Emea’s mergers and acquisitions from Colm Donlon, who became chairman of Emea’s investment banking business around the same time.

Kitrick, widely seen as a rising star at Morgan Stanley, reports to Donlon.

Kitterick has been with Morgan Stanley since 2009, joining Morgan Stanley after earning an MBA from Insead Business School.

A Morgan Stanley spokesman confirmed the appointment.

Read Morgan Stanley appoints new head of European trading

His appointment is the latest senior change in Morgan Stanley’s investment banking team, which has shuffled its top ranks in recent months. Massimiliano Ruggieri, who has been managing its Emea sponsors division since 2018, was promoted to head of Emea’s investment banking business in September, FN reported.

Ruggieri takes over the role of Morgan Stanley’s Emea investment banking team from Simon Smith, who led its Emea investment banking practice for seven years. Smith was promoted to head of global transactions in July along with US-based Eli Gross.

The pair take over from Mark Eichorn and Susie Huang, who co-led their investment banking division, and serve as executive chairmen as part of the change.

Morgan Stanley’s investment banking expenses were $1.3 billion in the third quarter, down 55% from a year earlier, when capital markets and mergers and acquisitions revenue hit record highs. Its expenses fell 49% to $4 billion in the first nine months of 2022.

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To contact the author of this story with feedback or news, please email Paul Clarke

Source of information: Compiled from FNLONDON by 0x Information.The copyright belongs to the author and may not be reproduced without permission

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