Morgan Stanley (MS.N) has employed former Financial institution of America (BAC.N) banker Luigi Rizzo for a brand new client-facing position overseeing a drive to win enterprise from a large spectrum of firms throughout Europe, the Center East and Africa (EMEA), sources conversant in the transfer instructed Reuters.
Rizzo, who was on the helm of Financial institution of America’s European company and funding banking and give up in late 2019, will turn out to be Morgan Stanley’s vice chairman of funding banking for EMEA, the sources mentioned, talking on situation of anonymity.
Morgan Stanley was not instantly obtainable for remark.
A seasoned dealmaker who began his profession at Goldman Sachs (GS.N) in 1993, Rizzo rose by way of the ranks, changing into a associate in 2008 and dealing intently with a few of Europe’s most distinguished dealmakers together with Diego De Giorgi, now co-CEO at Pegasus Europe.
In 2013 he joined Financial institution of America to tackle high jobs in each M&A and funding banking for the EMEA area, and moved to Paris after the Brexit referendum to supervise the financial institution’s rollout throughout the EU.
In his new position he’ll advise shoppers, together with client and retail firms, monetary establishments and TMT (telecoms, media and expertise) conglomerates of their efforts to pursue strategic mixtures that might velocity up their post-COVID restoration.
The 50-year previous Italian, who can be a lecturer at varied enterprise colleges together with Solvay Brussels Faculty of Economics and Administration, the place he graduated, will probably be primarily based in London and report back to Morgan Stanley’s head of funding banking Simon Smith.
His appointment comes as Morgan Stanley – which ranked second after Goldman Sachs in Refinitiv’s world M&A league desk final yr – goals to reap the benefits of a rebounding M&A market, with an general $2.4 trillion value of M&A offers introduced globally through the first 5 months of 2021.
In Could alone world dealmaking volumes hit a month-to-month file of $532.9 billion.
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