Morgan Stanley has appointed a new head of its banks team within its financial institutions group in North America, a post that has been vacant since the previous head, John Esposito, left the role more than 18 months ago.

W. Grant Gregory Jr will take up the position as head of Morgan Stanley's North America bank group immediately. Gregory was already a senior banker within Morgan Stanley's FIG business. The 40-year old rejoined Morgan Stanley in 2002, having previously been an analyst for the bank.