Morgan Stanley Names New FIG Co-Heads

NEW YORK (Reuters) – Morgan Stanley (MS.N) named investment bankers Eric Bischof and Jonathan Pruzan as global co-heads of its financial institutions group (FIG), replacing Ruth Porat, who was named chief financial officer last month.

Morgan Stanley named John Esposito as the head of FIG Americas, according to a Dec. 29 memo obtained by Reuters on Monday.

The moves came as James Gorman took over as the Wall Street firm’s chief executive, replacing John Mack. Morgan Stanley topped the rankings of M&A advisers globally in 2009, according to Thomson Reuters data.

Morgan Stanley also named Yoichiro Ito and Takashi Kurose as co-heads of FIG Japan, taking over from Kohei Yuki who will remain a senior banker focusing on important FIG clients in Japan.

The appointments were effective Jan. 1, 2010.

Bischof, 45, has been with Morgan Stanley for 13 years and was earlier global chief operating officer of the financial institutions group.

His recent deals included advising the Federal Reserve Bank of New York on the restructuring of American International Group Inc (AIG.N) and Safeco in its 2008 sale to Liberty Mutual.

Pruzan, 41, a 15-year Morgan Stanley veteran, was co-head of North America FIG M&A.

His recent transactions included advising on such deals as a $2.8 billion equity raise by US Bancorp (USB.N) to repay U.S. taxpayer funds and several assignments involving GMAC Financial Services.

Esposito’s recent deals include KeyCorp’s (KEY.N) $1 billion equity raise, Marshall & Ilsley’s (MI.N) $850 million equity raise and People’s United Financial Inc’s acquisition of Financial Federal Corp (FIF.N). (Reporting by Paritosh Bansal, editing by Matthew Lewis, Gary Hill)