Morgan: Off with their Heads!

Morgan Stanley reshuffled its investment-banking lineup, elevating the heads of four industry groups and in most cases replacing them with junior bankers.

Former corporate-finance group head Alan Jones will become group chairman, focusing on clients such as private-equity funds, and will be succeeded by Jason Milazzo.

Christopher Harland, former head of the media-and-telecommunications group, will become group chairman and be succeeded by new co-heads Stuart Epstein and Andrew Tisdale. Jeff Holzschuh, former head of the global power-and-utilities group, will become group chairman and be succeeded by new co-heads Jonathan Grundy and David Nastro.

The changes were outlined in a memo yesterday from investment-banking chief Walid Chammah, who also announced the promotion of four merger bankers under the continued leadership of Paul Taubman, head of global mergers.

http://online.wsj.com/article/SB115828857092264020.html?mod=home_whats_news_us