Morgan Stanley (NYSE: MS), the world’s second largest M&A adviser, has hired JPMorgan Chase & Co. (NYSE: JPM)’s Thomas M. Miles, who has helped setup takeovers between a number of large companies including UAL Corp.’s United Airlines and Bristol-Myers Squibb Co.
Miles, who was previously a managing director at JPMorgan Chase & Co. (NYSE: JPM)’s M&A group, will take on a similar role at Morgan Stanley (NYSE: MS) when he joins the company later this year. Miles worked at JPMorgan Chase & Co. (NYSE: JPM) since 1994.
Miles as on the team at JPMorgan Chase & Co. (NYSE: JPM) which helped UAL win an agreement in May to merge with Continental Airlines Inc., creating the world’s largest airline. JPMorgan Chase & Co. (NYSE: JPM) will earn a $23 million fee for making the deal happen. He also advised Bristol-Myers in its 2009 acquisition of Medarex Inc.
Morgan Stanley (NYSE: MS) has been building up its investment banking team and hiring away employees from competitors. The company has hired energy bankers Michael Johnson, Jonathan Cox, and Eduardo Miras from Deutsche Bank AG and Citigroup Inc. Outside of Morgan Stanley (NYSE: MS)’s investment banking operations, it’s hired 100 new bankers to offer loan products to clients of Morgan Stanley Smith Barney and may boost that number to 500 by 2011.
Morgan Stanley (NYSE: MS) ranked as the second largest M&A adviser globally this year, behind Goldman Sachs Group Inc. (NYSE: GS). Credit Suisse Group AG and JPMorgan are ranked third and fourth.
