The executive shuffling continues at Morgan Stanley, as new CEO John Mack assembles his team to turn around the troubled Wall Street giant.

The firm announced it has named Walid Chammah as head of investment banking, and Jerker Johansson and Neal Shear have been named co-heads of institutional sales and trading. The move comes on the heels of the firm hiring a new retail division head away from Merrill Lynch and reversing previous CEO Phil Purcell’s decision to sell its credit card division.

Chammah was previously head of global capital markets. Johansson is head of the institutional equities division, and Shear is head of the fixed income division. They will retain their current roles and also be co-heads of a new position with joint management responsibility for the institutional equities and fixed income divisions, created to enhance the integration of those businesses.

The firm said Johansson and Shear will maintain distinct equity and fixed income operations. At the same time, they will work to combine those management functions and trading activities that will help drive revenue growth while providing greater efficiency and the use of best practices across the two divisions. Their immediate priority will be to increase new business growth through expanded offerings across a range of equity and fixed income products. Improved integration will provide opportunities for cost reductions by streamlining operations and eliminating duplicative or overlapping functions, it suggested.

Jon Anda and Franck Petitgas will become co-heads of global capital markets. Anda was formerly managing director and global head of corporate finance, and Petitgas was managing director and head of Morgan Stanley’s global capital markets activities in Europe.

The company said that Cordell Spencer and Mike Uva who had been named co-heads of investment banking in April would take on new responsibilities within the investment banking division.

John Mack, chairman and chief executive officer, said, “We are moving on all fronts to strengthen Morgan Stanley’s leadership team and create the optimum structure for continued success. Today’s management and organizational changes are key steps in that process.”