Morgan Stanley International chairman Walid Chammah, a banking veteran who has worked on Wall Street for a third of a century, has announced plans to bring his distinguished career at the investment bank to an end.

According to an internal memo from the US bank's chief executive James Gorman, Chammah will remain as a senior adviser but will step down from the operating and management committees. The announcement of his exit was first reported by Deal Journal and the Fox Business Network.