Morgan Stanley has named new leaders for its mergers and acquisitions business in France after a senior banker left for rival Goldman Sachs, the latest move in the battle for top dealmaking talent in Paris.
New Appointments
The U.S. bank has promoted two senior bankers to co-heads of M&A for France, according to a memo seen by Financial News. The new co-heads are experienced dealmakers who have been with the firm for several years.
One of the new co-heads is a managing director who has worked on numerous cross-border transactions, while the other is a director with deep expertise in French corporate finance. Both will report to the head of M&A for Europe, the Middle East and Africa.
Background
The appointments come after a senior managing director left Morgan Stanley to join Goldman Sachs in Paris, where he will lead the French M&A team. That departure left a gap in Morgan Stanley's French dealmaking operations, which the bank has moved quickly to fill.
Morgan Stanley has been investing heavily in its European M&A business, particularly in France, where it has advised on several high-profile transactions in recent years. The bank is keen to maintain its strong position in the French market despite competition from rivals.
Market Context
The reshuffle highlights the intense competition for top M&A talent in Europe, especially in France, where dealmaking activity has been buoyant. Banks are vying for experienced bankers who can bring in lucrative mandates and advise on complex cross-border deals.
Morgan Stanley's move also reflects the broader trend of U.S. investment banks expanding their European operations, with Paris emerging as a key hub for dealmaking. The French capital has attracted many bankers since Brexit, as firms seek to maintain access to the European Union market.
Outlook
The new co-heads are expected to focus on deepening relationships with French corporates and financial sponsors, as well as driving growth in sectors such as technology, healthcare and consumer goods. They will also work closely with the bank's international teams to win cross-border mandates.
Morgan Stanley's French M&A team has advised on several notable deals, including the acquisition of a French luxury goods company by a U.S. conglomerate and the sale of a French energy firm to a European rival. The bank aims to build on this momentum under the new leadership.
