Here's an interesting patent.
Patent US4158100 (http://l2.espacenet.com/dips/viewer?PN=US4158100&CY=gb&LG=en&DB=EPD)
Abstract :
beta -Phenylethyl alcohol is prepared by the homologation of benzyl alcohol with hydrogen and carbon monoxide in the presence of a cobalt catalyst promoted with ruthenium and iodine compounds, in the presence of water at a temperature from 100 DEG to 165 DEG C. High yields and selectivity of the beta -phenylethyl alcohol are obtained.
The patents also refers to the conversion of methanol to ethanol via simular techniques (bootleggers wetdream !)
The only thing that puts a bummer on the reaction is the high pressures needed.
Don't cry for me I'm the cleaner