Morgan Stanley has promoted a long-serving dealmaker to the deputy head of its investment banking unit in Europe, in the latest senior change at the US bank in the City.

David Kitterick, a senior M&A banker at Morgan Stanley, has been named deputy head of investment banking for Europe, the Middle East and Africa at Morgan Stanley, according to people familiar with the matter.

He takes over the role from Jan Weber, who was named head of M&A for Emea in September as part of a series of changes to Morgan Stanley’s investment bank in recent months.

Weber took over the head of Emea M&A role from Colm Donlon, who moved to become chair of Emea investment banking around the same time.

Kitterick, widely seen as a rising star at Morgan Stanley, reported into Donlon.

Kitterick has worked at Morgan Stanley since 2009, having joined as an associate after graduating with an MBA from Insead business school.

A Morgan Stanley spokesperson confirmed the appointment.

READ Morgan Stanley names new head of European dealmaking

His appointment is the latest senior change within Morgan Stanley’s investment banking team, which has shaken up its upper ranks in recent months. Massimiliano Ruggieri, who had been running its Emea sponsors unit since 2018, was promoted to head of investment banking for Emea in September, FN reported.

Ruggieri took the reins for Morgan Stanley’s Emea investment banking team from Simon Smith, who had led its Emea investment banking operations for seven years. Smith was promoted to global head of dealmaking alongside US-based Eli Gross in July.

The duo took over from Mark Eichorn and Susie Huang, who co-headed its investment banking unit, and moved into executive chair roles as part of the changes.

Morgan Stanley made $1.3bn in investment banking fees during the third quarter, a decline of 55% on the same period last year when both capital markets and M&A revenue hit record highs. Its fees are down by 49% to $4bn in the first nine months of 2022.

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