Morgan Stanley hires Goldman’s metals and mining head

Morgan Stanley has hired the global head of metals and mining at rival Goldman Sachs Group Inc. to boost its team of industrials bankers, according to people familiar with the matter.

David Hammond will rejoin Morgan Stanley later this year as a managing director focused on metals, mining and basic materials, the people said, asking not to be identified discussing confidential information. He will be based in New York.

Representatives for Morgan Stanley and Goldman Sachs declined to comment.

Hammond arrived at Goldman Sachs in 2018 and has been a partner at the firm. During his time at the bank he has worked on high-profile metals and mining deals, including Rio Tinto Plc’s acquisition of Arcadium Lithium Plc and the sale of Teck Resources Ltd.’s metallurgical coal business to Glencore Plc.

Last year, Goldman Sachs, Morgan Stanley and Centerview Partners advised Anglo American Plc after the London-listed miner received a takeover offer from its larger rival BHP.

Hammond previously spent 15 years at Morgan Stanley between 1997 and 2012, his LinkedIn profile shows, before leaving to join Credit Suisse.

(By David Carnevali)