The headquarters of Morgan Stanley, near Times Square, in New York. (AP Photo/Richard Drew, File)The Associated Press
Morgan Stanley is searching for a new managing director of its Calgary office following the departure of Aaron Papps.
Mr. Papps has left the energy franchise of the U.S.-based investment bank for personal reasons, a source familiar with the situation said. He held the post since 2011, having previously worked at Merrill Lynch.
Morgan Stanley still sees the Canadian energy business as important, and is looking for a replacement from both inside and outside the organization. A spokesperson for the dealer was not immediately available for comment.
The change at the Calgary office comes amid expectations that the oil patch deal flow is on the cusp of picking up due to higher crude prices as well as stronger finances and better access to capital among producing companies.
Jeffrey Jones