Morgan Stanley is merging its Global Energy and Global Power & Utilities investment banking teams to enhance client coverage in oil, gas, electricity, and renewables. The new Global Power and Energy group will be led by co-heads John Jameson and Andrew Ward to address the evolving energy landscape and finance needs.

The move comes as investment banks vie for mandates in both fossil fuels and clean energy sectors, with robust deal flow seen in U.S. shale, Middle East capital raising, and large renewable projects. Morgan Stanley aims to pursue cross-sector transactions and provide unified coverage for upstream oil, utilities, and renewable developers.

While the bank has not disclosed any staffing changes or cost reductions resulting from the reorganization, it has been involved in significant transactions this year. By combining its coverage, Morgan Stanley signals a more aggressive approach, particularly in areas where fossil fuels and renewables intersect.

Morgan Stanley’s restructuring aligns with other Wall Street firms recalibrating their energy franchises, with competitors like Goldman Sachs and JPMorgan emphasizing growth in energy transition deals while still benefiting from traditional oil and gas transactions. This shift reflects the bank’s commitment to capturing opportunities in both sectors.

Read more at Yahoo Finance: Morgan Stanley Reshapes Energy Investment Banking