ABN AMRO has promoted FIG banker Nick Rowe to head of corporate finance in Australia and New Zealand. Rowe fills the shoes of Richard Wagner who defected to Morgan Stanley.

Rowe has spent the last three years at ABN AMRO as head of the financial institutions and public sector business and as a member of the bank's Australasian management team. He has a 20-year career in investment banking.

"Nick will ensure continued delivery of the bank's strong client-led focus and integrated advice and capital model," says ABN AMRO's Australian chief executive, Angus James.

Rowe will report to James and the global head of corporate finance, Jan de Ruiter. One of Rowe's first tasks will be to help finalise the listing of New Zealand power company Vector.

The bank is lead managing the IPO and is currently advising Vector on its offer to minority shareholders of NGC, a company Vector purchased last year. ABN AMRO also advised Vector on this acquisition and provided an equity bridge facility.

The bank has moved quickly to replace Wagner who made the shift to Morgan Stanley this month. Another ABN AMRO M&A advisor, Peter Brownie, also signed up with the US bank.