"Selfless" Morgan Stanley deal-maker dies at 47

Mr MacDonald had worked for Morgan Stanley for the whole of his 25-year career, and reportedly played a key role in arranging the investment deal that stabilised the firm in October.

In a memo sent to staff on Saturday, Mr Mack described Mr MacDonald as "a role model" to other Morgan Stanley employees.

He said: "Gavin was an extremely decent, universally liked, funny, selfless and deeply valued man. He was also a close and generous friend to many of us.

"Gavin was a trusted advisor to many important clients in Europe and a role model at Morgan Stanley. He will be greatly missed."

The former law student joined Morgan Stanley as a financial analyst in 1983 from Cambridge University. He was promoted to managing director in 1997.

Mr MacDonald was one of the founding members of the European Mergers and Acquisitions department, and became a vice chairman of investment banking in 2004.

The European Management Committee member became the first London-based employee to hold the role of Global Head of Mergers and Acquisitions when he was appointed last year.

During his time at Morgan Stanley, he was involved in transactions such as the $18.8billion acquisition of Altadis by Imperial Tobacco, the $11.4billion merger of Taylor Woodrow and George Wimpey, the sale of Absolut Vodka manufacturer Vin and Sprit by the Swedish government and the $15.8billion merger of Wharf-based information provider Reuters with Canadian firm Thomson.

In the last year, Morgan Stanley was the fifth largest merger advisor worldwide, with deals adding up to a total of $556billion.

Mr MacDonald also helped seal a $9billion investment in the bank by Japanese firm Mitsubishi UFJ Financial Group in the midst of the market chaos which claimed Canary Wharf neighbour Lehman Brothers.

He was a keen rugby fan, and represented Cambridge while during his time at the university.