Morgan Stanley Adds to Holdings in GM

Morgan Stanley increased its holdings in General Motors Corp. to 5.1%, joining billionaire investor Kirk Kerkorian and other shareholders in buying stock as the automaker tries to end losses.

Morgan Stanley holds 29.6 million shares of GM, according to a filing with the Securities and Exchange Commission.

Detroit-based GM, which is trying to stop U.S. sales declines, said it would shuffle some of its North American sales and marketing leaders.

Brent Dewar, vice president of marketing and advertising, will become GM North America vice president of field sales, service and parts. He will be replaced by Mike Jackson, the Western regional general manager in Los Angeles. Susan Docherty, general manager of the Hummer brand, succeeds Jackson.