Morgan Stanley Merges Energy and Power Units Under Dual Leadership

Morgan Stanley is merging its Global Energy and Global Power & Utilities investment banking teams into a single worldwide unit, led by co-heads John Jameson and Andrew Ward. The move aims to sharpen coverage of clients across oil, gas, electricity, and renewables, responding to the rapidly evolving energy landscape. The bank will operate as a unified point of coverage for clients straddling multiple segments, including upstream oil producers, utilities, and renewable developers.

New York, September 12, 2025 - Morgan Stanley has announced the merger of its Global Energy and Global Power & Utilities investment banking teams into a single worldwide unit, the Global Power and Energy Group. This strategic move, led by co-heads John Jameson and Andrew Ward, aims to enhance the bank's coverage of clients across oil, gas, electricity, and renewables, reflecting the rapidly evolving energy landscape.

The new structure positions Morgan Stanley to provide unified point-of-coverage for clients straddling multiple segments, including upstream oil producers, utilities, and renewable developers. The bank seeks to capitalize on the growing intersection of traditional hydrocarbons, renewable power, and infrastructure finance, as highlighted by the increasing demand for power from both traditional and renewable sources Morgan Stanley combines two investment banking teams ...^[1].

The reorganization comes amidst robust global energy deal flow, with consolidation in U.S. shale, Middle East capital raising, and multibillion-dollar renewable projects demanding advisory services Morgan Stanley Reshapes Energy Investment Banking^[2]. By combining its coverage, Morgan Stanley aims to pursue cross-sector transactions such as integrated LNG-to-power ventures or financing for grid-scale storage, aligning with the bank's role in several headline transactions this year Morgan Stanley Reshapes Energy Investment Banking^[3].

The decision to merge the teams is part of a broader trend among investment banks to recalibrate their energy franchises, as competitors like Goldman Sachs and JPMorgan also highlight energy transition deals as a growth market Morgan Stanley Reshapes Energy Investment Banking^[2]. The new structure is expected to give clients a more integrated and cohesive service, addressing the complexities of companies operating in multiple energy sectors.

While Morgan Stanley has not disclosed whether the shift involves staffing changes or cost reductions, the move signals the bank's intent to take a more aggressive stance in venues that represent both fossil fuels and renewable combined plays Morgan Stanley Reshapes Energy Investment Banking^[3].