NEW YORK (
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
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
Morgan Stanley is likely to name a new chief financial officer and announce other key appointments under Gorman, the
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
-- Reported by Joseph Woelfel in New York
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