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Morgan Stanley merges energy and utilities teams into new global group

The US investment bank is restructuring its operations by merging its energy and utilities divisions to form a global power and energy unit.

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Morgan Stanley has merged its Global Energy and Global Power and Utilities investment banking teams to create a new entity named the Global Power and Energy Group. The announcement was made in an internal memo sent to the investment banking division. The reorganisation aims to better reflect the ongoing shifts in global energy demand, driven by rising needs for both traditional and renewable sources.

The group will be co-headed by Jon Fouts, who has served as Global Head of Power and Utilities since 2022, and Michael O’Dwyer, formerly Global Head of Energy. According to the memo, the merger is described as a direct response to the structural transformations in the energy landscape and increasing demand for financial advisory services in the sector.

Regional leadership allocation

The new structure includes a regional distribution of leadership roles. In North America, Eddie Mannheimer will lead investment banking for the power and utilities sector, while Ryan Synnott will head the energy division in Houston, a historic hub for oil and gas operations.

In the Europe, Middle East and Africa (EMEA) region, Francesco Puletti will oversee power and utilities, and Mutlu Guner will lead energy activities. Both executives are tasked with coordinating advisory and financing services in their respective regions, amid high capital demand for energy infrastructure.

Strategic response to a shifting market

This move is part of a broader strategy by major investment banks to streamline their sector divisions to better support clients navigating industrial transitions and financing requirements. By combining sector expertise into a single unit, the bank aims to provide more cohesive coverage across the entire energy value chain, including producers, distributors and infrastructure operators.

Morgan Stanley declined to comment publicly on the decision, but according to the memo, the new structure is expected to enhance the group’s agility in responding to rapid sector developments, such as supply diversification and the expansion of hybrid assets.

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