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Morgan Stanley Misses Deal Harmony With Kelleher-Taubman Clash

Colm Kelleher and Paul J. Taubman, co-heads of Morgan Stanley’s biggest business, work on opposite sides of an ocean, disagree about strategy and share an enmity that has become the subject of company jokes.

At a meeting of more than 100 managing directors at the Ritz-Carlton Battery Park hotel in New York last year, Robert Kindler, the bank’s head of mergers and acquisitions and brother of stand-up comedian Andy Kindler, drew laughs and whistles when he ribbed the two men about their relationship, according to two people who attended the session.