Esteban, a senior managing director of the investment- banking division, will take over from Joaquin Arenas, according to an internal company statement seen by Bloomberg News. The contents of the memo were confirmed by Hugh Fraser, a London- based spokesman for Morgan Stanley.
Bank of America Corp. hired Arenas as head of corporate and investment banking for Spain, it said in a statement sent yesterday by Silvia Albert, a Madrid-based corporate communications firm. Arenas is due to start in May, according to the statement.
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