Morgan Stanley adjusts leadership of European investment banking business

Morgan Stanley has made a series of adjustments to the leadership team of its European investment banking business, as the region is expected to see a surge in merger and acquisition activity. An internal memo shows that the American bank has appointed William Bertagna as the Deputy Head of Investment Banking for Europe, the Middle East and Africa. Bertagna will replace Martin Grebner, who was co-head of the bank's industrial group for Europe, the Middle East and Africa along with Markus Fimpel. Karsten Hofacker, who previously led the industrial group in the region, will now take on the role of Head of Financial Sponsors and M&A for Europe, the Middle East and Africa.