Morgan Stanley France chairman takes Rothschild role
Morgan Stanley’s most senior banker in France has left the bank and re-emerged at Rothschild as a vice chairman, joining the ranks of elite former businessmen providing advice to the family-owned independent investment bank.
Patrick Ponsolle is the latest addition to Rothschild Europe, essentially a non-executive management team made up of senior businessmen with ties to industry and government.
Ponsolle had been chairman of Morgan Stanley in France since 2001 and his impending departure from the US bank was first announced in July. Prior to working for Morgan Stanley, he spent more than a decade at the helm of Eurotunnel, the infrastructure group which underwent several financial restructurings.
Ponsolle was also previously a senior executive of French conglomerate Suez Group. Morgan Stanley was an adviser to Suez during its controversial government-instigated merger with Gaz de France in 2006.
David de Rothschild, chairman of the Rothschild Group, said in a statement: “Patrick will bring his considerable industry knowledge and investment banking expertise to the firm and will actively contribute to developing our business across the world."
Other vice chairmen at Rothschild Europe include Pehr Gyllenhammar, former chairman and chief executive of Volvo and subsequently chairman of insurance group Aviva; Klaus Mangold, former chairman of DaimlerChrysler; and Alfonso Cortina, former chairman and chief executive of Spanish oil giant Repsol.
René Proglio replaces Ponsolle as chairman of Morgan Stanley in France, a spokesman for Morgan Stanley said.
-write to Liam Vaughan at lvaughan@efinancialnews.com
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