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Morgan Stanley has tapped Aftab Shahsingh from UBS to lead its industrial services investment banking coverage in North America, according to a source familiar with the matter. Shahsingh, a veteran with over 15 years of experience, is expected to join the firm later this year. He has led more than 50 advisory and capital-raising deals since 2020, strengthening his reputation in the sector.
This move is part of Morgan Stanley’s broader effort to expand its industrials investment banking practice. Recent high-profile hires include David Hammond for metals and mining and Sean Murray for chemicals, both from Goldman Sachs. The bank also brought on Andy Lipsky and Chris Khouri from JPMorgan to focus on industrial technology.
The hiring spree follows Morgan Stanley's recent second-quarter earnings report, which beat Wall Street expectations despite a decline in investment banking revenue. CEO Ted Pick noted a surge in deal activity toward the end of the quarter, signaling a potential rebound in capital markets. "The second half ended with increasing engagement and a steady rebound in capital markets," he told analysts.
CFO Sharon Yeshaya echoed that sentiment, highlighting an uptick in mergers and acquisitions discussions. "Companies are looking past tariffs for strategic movements and growth," she told Reuters.
By bringing in Shahsingh and other top talent, Morgan Stanley aims to strengthen its position in the industrials sector and capture a growing share of the M&A and capital markets recovery. These strategic hires position the bank to better serve clients seeking advisory and capital-raising solutions in a dynamic market environment.
