UBS promoted senior energy dealmaker Tom Langford to run its global natural resources investment banking business, leading the Swiss bank's practice in the energy, mining and chemicals sectors. UBS announced that it was combining the three practices into a single unit and that Langford would head up that group in a memo reviewed by Reuters on Wednesday. A UBS spokeswoman confirmed the contents of the memo.Langford was previously the head of the bank's energy practice based in Houston, a position he has held since 2011. Before joining UBS, he spent 17 years as an energy investment banker at Morgan Stanley.According to the memo, UBS' energy, mining and chemicals groups have accounted for about 20 percent of the bank's investment banking fees over the past years.
Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS traded higher by 1.93% or $0.541/share to $28.53. In the past year, the shares have traded as low as $15.95 and as high as $29.50. On average, 13155000 shares of MS exchange hands on a given day and today's volume is recorded at 12456568.
Source
