Morgan Stanley(US:MS) Jin Rong Jie·2026-02-10 16:44Group 1 - Michael Grimes has returned to Morgan Stanley as the head of the investment banking division, focusing on leading the underwriting for SpaceX's initial public offering (IPO) [1] - Grimes has a strong working relationship with Elon Musk, having previously led Tesla's IPO in 2010 and the acquisition of Twitter in 2022, making him one of the few bankers who can match Musk's pace [1][2] - Grimes has extensive experience in technology investment banking, having worked at Solomon Brothers and Bear Stearns before joining Morgan Stanley in 1995, where he has served for nearly 30 years [1] Group 2 - Last week, SpaceX merged with xAI, raising its valuation to $1.25 trillion, with an estimated $40 billion in fundraising, allowing participating banks to share approximately $400 million in fees [2] - Grimes' return is expected to enhance Morgan Stanley's competitive advantage and increase its chances of securing the lead underwriting role [2] - Grimes is known for providing exceptional service to clients, having gone to great lengths to secure IPO underwriting roles, including experiencing platform games for Facebook's IPO and working as a rideshare driver for Uber's IPO [2]