(Bloomberg) -- Long-time Morgan Stanley executive Franck Petitgas is stepping down after a 30-year run at the bank.

Petitgas, 61, has held roles leading its investment-banking division as well as most recently at the helm of its international unit. He will remain a senior adviser, according to a memo seen by Bloomberg.

At one point, Petitgas was in the running to be a successor to Chief Executive Officer James Gorman. The bank’s subsequent changes to its leadership ranks last year left him effectively out of the running to replace Gorman, who has indicated a desire to continue leading the bank for now. In 2018, Petitgas was appointed head of the bank’s international operations as part of a management shuffle.

A spokesperson confirmed the contents of the memo. The Financial Times reported the news earlier. 

Petitgas was made co-head of investment banking in 2012 when long-time executive Paul Taubman left the firm. That made him responsible for global client coverage, mergers and acquisitions and capital markets. Petitgas joined Morgan Stanley in New York in 1993 and moved to the London office three years later.

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