Boutique investment bank Greenhill has recruited the former head of Morgan Stanley's retail group as the sector continues to see strong activity.

Greenhill hired Richard Steinman, 43, as a managing director to focus on the retail sector. Steinman spent his entire 17 year career in Morgan Stanley's retail effort and was head of the bank's global retail group. Steinman will join Greenhill in April at the end of his gardening leave.