Bloomberg News reports that Gammage will continue to be a vice chairman of investment banking at the bank, according to a memo obtained by Bloomberg News. He will report to North American investment banking head Eric Stein. The contents of the memo were confirmed by a spokeswoman for JPMorgan.
In the meantime, Bloomberg also reports that Phibro has picked two Morgan Stanley veterans for top leadership roles as the storied commodities trader continues its reboot.
Joseph Delaney, former managing director for U.S. power trading at Morgan Stanley, has been appointed Phibro’s chief financial officer, and Martin Mitchell, once Morgan Stanley’s chief operating officer for global commodities, is the trading house’s new COO, Phibro said in a statement Monday. The two were also named partners at the firm.
Finally, Reuters reports that Morgan Stanley has appointed Ammar Al-Khudairy as chairman of Morgan Stanley Saudi Arabia, succeeding Richard A. Debs, according to an internal memo seen by the news agency and confirmed by a bank spokesman.
Al-Khudairy was a founding director of Morgan Stanley Saudi Arabia and had been vice chairman of its board since 2012, according to the memo. Debs, who had been chairman of Morgan Stanley Saudi Arabia since 2012, will continue to be an advisory director of Morgan Stanley, the memo added.