Patrick Ponsolle, the former chairman of Eurotunnel who stepped down last week, has joined Morgan Stanley to head its French business.

He will effectively replace Patrice Vial, the head of Morgan Stanley in France since early 1996, who will leave the firm in the next few months to pursue personal interests. Ponsolle will officially be a vice chairman of Morgan Stanley International, the investment bank's European holding company, and will be the company's senior banker in France. He was already a member of the firm's European advisory board.