Morgan Stanley Rehires Veteran Dealmaker Michael Grimes

• Grimes will be based in Menlo Park, California, managing relationships with major global corporate, venture capital, private equity, and sovereign clients
• His return positions Morgan Stanley as a leading contender for Elon Musk's SpaceX IPO, building on previous work on Tesla's IPO and the $44 billion Twitter acquisition
• Morgan Stanley reported a 47% jump in investment banking revenues in Q4, with dealmaking momentum expected to continue through the year

Morgan Stanley Rehires Veteran Dealmaker Michael Grimes

Morgan Stanley has reinstated Michael Grimes as chairman of investment banking following his government service at the Commerce Department, where he managed the government's venture capital stakes in private-sector projects.

Key Personnel Move:

Grimes, a three-decade veteran of Morgan Stanley and one of Wall Street's most prominent dealmakers, will be based in Menlo Park, California. His role focuses on managing relationships with major global corporate, venture capital, private equity, and sovereign clients.

Deal Track Record:

Grimes previously led multiple high-profile initial public offerings, including Meta and Uber. He has also worked extensively with Elon Musk, serving as a lead underwriter for Tesla's IPO and involvement in Musk's $44 billion Twitter acquisition.

Strategic Timing:

The rehiring positions Morgan Stanley to capitalize on anticipated strong tech IPO activity in 2025. Most notably, the bank is emerging as a leading contender for a key role in SpaceX's highly anticipated public offering, which could value the company at over $1.5 trillion. SpaceX recently acquired Musk's AI startup xAI ahead of the planned IPO this year.

Market Context:

Morgan Stanley reported a 47% surge in investment banking revenues in Q4, driven by increased dealmaking activity. The momentum is expected to continue through 2025, making Grimes' return particularly timely for capturing major technology sector mandates.

The move strengthens Morgan Stanley's position in the competitive technology banking landscape during a period of robust IPO pipeline activity.