Morgan Stanley is merging its Global Energy and Global Power & Utilities investment banking teams into a single worldwide unit, a move aimed at sharpening its coverage of clients across oil, gas, electricity, and renewables, Reuters reported on Wednesday.
According to an internal memo seen by Reuters, the bank will operate the new Global Power and Energy group under a dual leadership model. John Jameson, previously head of Global Power & Utilities, and Andrew Ward, head of Global Energy, will serve as co-heads. The memo framed the decision as a response to the rapidly evolving energy landscape and the growing intersection of traditional hydrocarbons, renewable power, and infrastructure finance.
The reorganization comes as investment banks compete for mandates in both fossil fuels and clean energy.
Global energy deal flow has stayed robust through 2025, with consolidation in U.S. shale, Middle East capital raising, and multibillion-dollar renewable projects all demanding advisory services. Combining the two teams positions Morgan Stanley to pursue cross-sector transactions, such as integrated LNG-to-power ventures or financing for grid-scale storage.
The new structure is expected to give clients a unified point of coverage across upstream oil producers, utilities, and renewable developers, at a time when many companies straddle multiple segments.
The bank has not disclosed whether the shift involves staffing changes or cost reductions.
Morgan Stanley has played a role in several headline transactions this year, including advisory work on North American shale consolidation and debt financing for European offshore wind projects. By combining its coverage, the bank is indicating that it fully intends to take a more aggressive stance, particularly in venues that represent both fossil fuels and renewable combined plays.
Morgan Stanley joins other Wall Street firms in recalibrating their energy franchises. Competitors, including Goldman Sachs and JPMorgan have highlighted energy transition deals as a growth market, even as traditional oil and gas transactions continue to generate fees.
By Charles Kennedy for Oilprice.com
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