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Eck Moves to Morgan Stanley

Former Citigroup executive to head retail banking unit.

Michael Eck, former chairman of consumer investment banking at Citigroup, has joined Morgan Stanley as head of retail banking, a new position. He reports to Paul Taubman, global head of investment banking.

Additionally, Ian Sugarman, formerly a director at Citigroup’s consumer investment banking group, has joined Morgan Stanley as an executive director, reporting to Eck.

At Citigroup, the two bankers worked on Sun Capital’s acquisition of Kellwood Co., Istithmar’s purchase of Barneys and Apax Partners’ deal for Tommy Hilfiger Corp., among other transactions.