Morgan Stanley has hired Peter Bacchus to run its European metals and mining investment banking business in an effort to beef up its coverage of the sector. Bacchus had been of mining and metals for Australia, Asia and Africa at Citigroup until quitting this week.

Bacchus, who will join Morgan Stanley's London office as a managing director in the US bank's global basic materials group in autumn, spent six years at Citigroup, where he was also co-head of Asia-Pacific diversified industrials.