People Moves - Asia Pacific

Australia CBA adds 16 staff to equities team
Gorman to shuffle Morgan Stanley top management

Australia CBA adds 16 staff to equities team

Source: Reuters; December 8, 2009 - Commonwealth Bank of Australia Ltd, the nation's second-largest lender, is beefing up its institutional equities team, announcing the appointment of 16 executives poached from rival banks. Mark Storey, formerly of Credit Suisse Group in Australia, will head research product at CBA and Ben Zucker, a former Macquarie Group Ltd banking analyst, will head financial institutions research. Andrew Hines, former managing director of equity research at Morgan Stanley Australia for six years, will head CBA's resources team, based in Melbourne. Four of the executives appointed will boost the bank's institutional equities sales team, CBA said. "For the past 12 months, we have focused on building and renewing our institutional equities business and these new appointments will significantly enhance our capability in this important product set," said David Hancock, executive general manager of institutional equities and debt capital markets said.

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Gorman to shuffle Morgan Stanley top management

Source: Reuters; December 8, 2009 - James Gorman, who takes over as Morgan Stanley's chief executive on Jan. 1, plans to put finance chief Colm Kelleher and banker Paul Taubman in charge of the company's institutional securities unit. The shuffle has been planned in recent weeks by Gorman and the company is likely to name a new chief financial officer and announce other key appointments. In September, Morgan Stanley said its Chief Executive John Mack was stepping down and named retail brokerage head James Gorman as replacement. Mack, however, will remain chairman of the company.

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