NEW YORK - Morgan Stanley Dean Witter & Co. has named Stephan Newhouse and Vikram Pandit co-presidents and chief operating officers of its institutional securities group.
Mr. Pandit will focus on trading, sales, and infrastructure. Mr. Newhouse will concentrate on investment banking and international activities. He will also become chairman of Morgan Stanley International Inc. and will be based in London.
Joseph Perella was named chairman of the institutional securities group while retaining his responsibilities as a member of the firm's management committee.
The changes follow a reorganization of Morgan Stanley's asset management division. Dow Jones reported that Joseph McAlinden was named chief investment officer and is responsible for the company's stock, fixed income, and money market investments.
Morgan Stanley plans to combine the sales and marketing departments of its different asset management divisions. The new sales and marketing group will be responsible for the distribution of asset management products and services, including institutional, retail, U.S., and international markets.