Morgan Stanley (MS:US) named Travis Machen as co-head of its North American bank group, which advises depository institutions on mergers and acquisitions and helps them issue stocks and bonds.
Machen will head the group alongside Grant Gregory, who was put in charge of the unit last year, according to a memo obtained by Bloomberg News. Mary Claire Delaney, a Morgan Stanley spokeswoman, confirmed the contents of the memo.
Morgan Stanley ranks third among M&A advisers on bank deals announced this year, according to data compiled by Bloomberg. Machen advised Spain’s Banco Bilbao Vizcaya Argentaria SA (BBVA) on a $500 million agreement in June to sell its Puerto Rico business to Oriental Financial Group Inc. (OFG:US), and last year helped BankUnited Inc. (BKU:US) on its $783 million initial public offering.
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