Morgan Stanley expands sponsors team

The global investment bank has invested in its coverage of sponsor clients in Europe with two appointments and a promotion.

Investment bank Morgan Stanley has strengthened its European financial sponsor coverage division, according to Financial News.

The US bank has hired former Lazard director Edward Mason and Joe Hope-Bell from UBS as directors of its financial sponsor coverage team. In addition, Saul Nathan has moved from running the European equity linked and global capital market business to become managing director of the European financial sponsor coverage division.

Calls to Morgan Stanley seeking confirmation were not returned.

Nathan becomes the third managing director of the division, alongside Paul Kelly and David Law, who replaced Richard Atterbury following his departure to Lehman Brothers in June.

Commenting on the reasons for extending the practice, Law was quoted in Financial News as saying: “Financial sponsor activity continues to run at record levels across our business and investing in our coverage of sponsor clients is a strategic priority. After a period of significant additional investment we have broadened our footprint and doubled the size of our team to 18 bankers.”

The most recent large private equity deal Morgan Stanley has been involved in took place earlier this month, when the bank advised Nordic Capital on the €1.3 billion secondary buyout of installation products company Ahlsell by Cinven and Goldman Sachs Capital Partners.