Morgan Stanley has made a strategic move by hiring Aftab Shahsingh from UBS to lead industrials services coverage in its investment bank in North America. This decision comes as the bank looks to strengthen its presence in the sector and enhance its advisory and capital raising capabilities.
Shahsingh brings with him over 15 years of experience in industrial services, having led more than 50 advisory and capital raising transactions since 2020. His expertise and track record make him a valuable addition to the Morgan Stanley team. He is set to join the bank later this year, further bolstering its industrials practice.
In addition to Shahsingh, Morgan Stanley has been actively expanding its industrials team with recent hires from other major financial institutions. David Hammond, formerly of Goldman Sachs, has joined the bank to focus on metals and mining, while Sean Murray, also from Goldman Sachs, will cover chemicals. Andy Lipsky and Chris Khouri have been brought on board from JPMorgan Chase to lead industrial technology coverage. These new hires demonstrate Morgan Stanley’s commitment to strengthening its expertise in the industrials sector.
The hiring of Shahsingh and other industry experts comes on the heels of Morgan Stanley’s second-quarter earnings report. While the bank reported a profit that exceeded Wall Street estimates, its investment banking revenue saw a decline. The addition of seasoned professionals like Shahsingh and the others is aimed at driving growth and enhancing the bank’s capabilities in key sectors.
Overall, Morgan Stanley’s strategic hires and focus on expanding its industrials practice signal a strong commitment to providing top-notch advisory services and capital raising solutions to clients in North America. With Shahsingh at the helm of industrials services coverage, the bank is well-positioned to capitalize on opportunities in the sector and drive future success.
(Source: Reuters, Author: Tatiana Bautzer)
