Finance
Former German Finance Minister Joerg Kukies to Join Morgan Stanley
Published by Global Banking & Finance Review®
Posted on April 1, 2026
1 min readLast updated: April 1, 2026
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Former German Finance Minister Jörg Kukies will join Morgan Stanley in May, initially based in London before becoming country head for Germany and Austria and heading its continental Europe operations. His move underscores growing U.S. bank influence in Germany’s financial sector.
Joerg Kukies to Lead Morgan Stanley’s Germany & Europe Banking Operations
Joerg Kukies Appointed to Senior Role at Morgan Stanley
Background and Career Highlights
FRANKFURT, April 1 (Reuters) - Joerg Kukies, a former German finance minister, will take a role at Morgan Stanley, the U.S. bank said on Wednesday, marking a return to the senior ranks of banking after years of government service.
Transition to Morgan Stanley
Kukies, one of the most prominent individuals in German finance, will join Morgan Stanley in May in London for several months before moving to Frankfurt as country chief for Germany and Austria, as well as the head of Morgan Stanley's continental European operations.
Previous Experience
Goldman Sachs and Government Service
Kukies was a co-head at Goldman Sachs in Germany before moving to Berlin in 2018 as a deputy finance minister under Olaf Scholz. He later became a top aid under then-Chancellor Scholz before a half year at the helm of the finance ministry.
U.S. Banks’ Expansion in Germany
U.S. banks have grown their presence in Germany in recent years, taking on market share from local banks.
(Reporting by Tom SimsEditing by Madeline Chambers and Miranda Murray)
Key Takeaways
- •Jörg Kukies, who briefly served as Germany’s Finance Minister (Nov 7, 2024–May 6, 2025) and previously held senior roles at Goldman Sachs, is returning to banking with Morgan Stanley in May, starting in London and later moving to Frankfurt as head of Germany & Austria and Europe operations. (en.wikipedia.org)
- •U.S. banks have been steadily expanding in Germany: foreign banks' share of corporate lending has risen from 8.8 % to 12.6 % over the past decade, and U.S. bank exposures in Germany grew 11 % to $425 billion by mid‑2022. (eulerpool.com)
- •Morgan Stanley ranks among the top foreign players in Germany’s debt capital markets, while broader U.S. banking influence in Germany continues rising across corporate and investment banking. (vab.de)
References
Frequently Asked Questions about Former German finance minister Joerg Kukies to join Morgan Stanley
1Who is Joerg Kukies?
Joerg Kukies is a former German finance minister and a prominent figure in German finance.
2What new role will Joerg Kukies take at Morgan Stanley?
Joerg Kukies will become Morgan Stanley's chief for Germany and Austria and head of continental European operations.
3Where will Joerg Kukies be based after joining Morgan Stanley?
He will start in London for several months, then move to Frankfurt.
4What is Joerg Kukies's background in banking?
Before government service, Kukies was co-head at Goldman Sachs in Germany.
5How have U.S. banks like Morgan Stanley expanded in Germany?
U.S. banks have increased their market share in Germany in recent years, outpacing local banks.
