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Dealmaker Returns to Morgan Stanley
10 Feb
Summary
- Veteran dealmaker Michael Grimes returns to investment banking.
- Grimes previously advised the U.S. Commerce Department.
- His return supports potential SpaceX and other tech listings.
Michael Grimes, a prominent Wall Street dealmaker, has rejoined Morgan Stanley as chairman of investment banking. This move follows his recent tenure as a senior advisor at the U.S. Commerce Department, where he reportedly managed the government's venture capital investments.
Grimes brings extensive experience, having led significant initial public offerings for companies such as Meta and Uber. His return is strategically timed as Morgan Stanley prepares to facilitate a wave of anticipated technology listings in the current year.
The veteran banker will focus on managing relationships with key global clients across corporate, venture capital, private equity, and sovereign sectors. He will be based in Menlo Park, California.
His reappointment is seen as a significant advantage for Morgan Stanley's efforts to secure a prominent role in the potential blockbuster listing of SpaceX. Grimes has prior experience working with Elon Musk on Tesla's IPO and his acquisition of Twitter.
Morgan Stanley's investment banking division reported a substantial 47% revenue increase in the fourth quarter, driven by a surge in dealmaking activity expected to persist throughout the year.
