NEW YORK (

TheStreet

) --

Morgan Stanley

(MS) - Get Report

is expected to put Chief Financial Officer Colm Kelleher and top mergers adviser Paul Taubman in charge of the company's institutional securities unit, Morgan's largest division, reports say.

The management shuffle has been planned in recent weeks by James Gorman, who will take over as Morgan Stanley's CEO from John Mack on Jan. 1, the

Wall Street Journal

and

Financial Times

report.

The changes are likely to be announced as soon as Tuesday, the newspapers say, citing people familiar with the situation.

Kelleher and Taubman will oversee the institutional securities division, including sales, trading and investment banking, which generated about $5 billion of Morgan Stanley's net revenue of $8.7 billion in the third quarter, the

TheStreet Recommends

Journal

notes.

Morgan Stanley is likely to name a new chief financial officer and announce other key appointments under Gorman, the

Journal

reports.

Kelleher and Taubman are likely to take over duties that had been handled by Morgan Stanley Co-President Walid Chammah, who is taking a job advising international clients from London. Gorman intends to leave open the co-president position once it is vacated by Chammah, the

Financial Times

reports.

-- Reported by Joseph Woelfel in New York

.

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