
Morgan Stanley hires Shahsingh from UBS to head North American industrial services IB
Shahsingh has worked in industrial services for over 15 years and led more than 50 advisory and capital-raising transactions since 2020, said the source, who declined to be identified discussing personnel matters. Shahsingh will join Morgan Stanley later this year.
The bank has been adding to its industrials practice with recent hires, including David Hammond in metals and mining and Sean Murray for chemicals, both from Goldman Sachs, and Andy Lipsky and Chris Khouri for industrial technology coverage from JPMorgan Chase.
Last week, Morgan Stanley reported a profit that beat Wall Street estimates in the second quarter, but its investment banking revenue shrank. The bank saw a pick-up in activity in the latest part of the second quarter, CEO Ted Pick told investors during the earnings call.
"The second half ended with increasing engagement and a steady rebound in capital markets," Pick told analysts.
Chief Financial Officer Sharon Yeshaya told Reuters in an interview the bank is optimistic about M&A discussions. "Companies are looking past tariffs for strategic movements and growth," she said.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


ITV News
25 minutes ago
- ITV News
HR chief Kristin Cabot resigns after viral 'kiss cam' video at Coldplay concert
The pair were seen embracing at the Coldplay concert earlier this month Credit: TikTok @InstaaGraace A US tech company's chief people officer has resigned after she was spotted embracing the company's chief executive at a Coldplay concert. Kristin Cabot, who oversaw Astronomer's human resources, was seen with the company's boss, Andy Byron, on the 'kiss cam' screen at Gillette Stadium in Foxborough, Massachusetts, earlier this month. The New York-based company confirmed to ITV News' US partner CNN on Thursday that she had resigned. Mr Byron had his arms around his colleague, but when they saw themselves on the big screen, the pair quickly separated and attempted to hide their faces. He resigned last week after being placed on leave, according to an earlier statement shared with CNN. 'Whoa, look at these two,' Coldplay frontman Chris Martin quipped at the time. 'Either they're having an affair or they're just very shy.' The video of the two quickly went viral online, along with alleged statements from the ex-CEO acknowledging the situation. Astronomer, however, said on LinkedIn that Mr Bryon had not put out any statement and 'reports saying otherwise are all incorrect.' That statement also addressed the misidentification of a third person seen in the viral clip. 'Astronomer is committed to the values and culture that have guided us since our founding. Our leaders are expected to set the standard in both conduct and accountability,' the statement also read. The data operations company, founded in 2018, acknowledged in a separate statement that 'awareness of our company may have changed overnight,' but its mission would continue to focus on addressing data and artificial intelligence problems. The company said Astronomer's co-founder and Chief Product Officer, Pete DeJoy, would serve as interim CEO. Mr Byron's LinkedIn account is no longer public, and he was removed from the company's leadership page following the announcement, which now lists co-founder DeJoy as CEO.


The Independent
14 hours ago
- The Independent
Why Tesla shares fell as Musk issues warning
Tesla shares fell after CEO Elon Musk warned of The electric vehicle maker reported a 12 per cent drop in revenue and a 16 per cent fall in profit, facing increased competition and the impact of Musk's political affiliations. Tesla's financial challenges include the loss of a $7,500 EV tax credit, reduced income from regulatory credits, and hundreds of millions in costs due to tariffs imposed by Donald Trump. Musk indicated a strategic shift towards self-driving taxis, automated driving software, and robotics, rather than focusing primarily on car sales. The company began rolling out its paid robo-taxi service in Austin, Texas, in June, with plans to expand to other cities soon


Daily Mail
14 hours ago
- Daily Mail
Trump fires back at reports he's trying to destroy Musk's companies
President Donald Trump shot back at reports that he will try to destroy the companies of former best friend Elon Musk, clarifying his intent when it comes to the world's richest man. Trump had previously threatened to take away the billions in government contracts that Musk's various companies hold. The duo had a very public fallout over Trump's one big beautiful bill, which resulted in each man making threats against the other But the president now says he wants Musk to 'thrive.' 'Everyone is stating that I will destroy Elon's companies by taking away some, if not all, of the large scale subsidies he receives from the U.S. Government. This is not so!,' the president wrote on Truth Social. 'I want Elon, and all businesses within our Country, to THRIVE, in fact, THRIVE like never before! The better they do, the better the USA does, and that's good for all of us,' Trump wrote. The clarification came after White House press secretary Karoline Leavitt was asked in her briefing on Wednesday if Trump supports federal agencies contracting with Musk's artificial intelligence company, xAI. 'I don't think so, no,' she replied and then added she would speak to the president about the matter. xAI won a contract for up to $200 million with the Department of Defense, alongside Anthropic, Google and OpenAI, last week. Additionally, this week, xAI unveiled a suite of products for U.S. government customers, which it refers to as Grok for Government. Trump and Musk have had a hot and cold relationship since the Tesla founder left government service in May. After his departure, Musk publicly turned on Trump's signature bill, complaining it would increase the country's debt and undo much of the savings his Department of Government Efficiency had sought. Trump was furious at Musk's public criticism and, at one point, responded: 'The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon's Governmental Subsidies and Contracts.' 'We might have to put DOGE on Elon. You know what DOGE is? DOGE is the monster that might have to go back and eat Elon,' Trump added. Musk, for his part, threatened to start a third political party to go after Republican candidates and posted on his X account that the reason the Jeffrey Epstein files hadn't been released because Trump is in them. He later took that post down.