51 Pipe-lineClosed30001011_-_PortfolioUWOldNID50_Future_022814.xlsx

while read one two three; do

  new=$(echo $two|tr '\' '/')
  echo $one
  echo $two
  echo $three
  echo $new

done < ./names.txt

51
Pipe-lineClosed300001011_-_PortfolioUWOldNID50_Future_022814.xlsx

Pipe-lineClosed300001011_-_PortfolioUWOldNID50_Future_022814.xlsx

while read -r one two three; do

  new=$(echo $two|tr '\' '/')
  echo $one
  echo $two
  echo $three
  echo $new

done < ./names.txt

51
Pipe-lineClosed3

Pipe-line/Closed3

sed -i 's|\|/|g' myfile

echo myfile
51 Pipe-line/Closed3/00001011_-_Portfolio/UW/Old/NID50_Future_022814.xls

for i in $(cat test | awk '{print $2}')
do
  mv $i `sed 's|\|/|g' <<< $i`
done