Morgan Stanley's equities exits and arrivals
Morgan Stanley is making cuts – 3,000 of them. But plenty of people are joining the bank regardless.
One of the people leaving is Scott Riskin. Riskin was with Morgan Stanley for nearly a decade and joined boutique bank Oppenheimer last week. An executive director (ED) at Morgan Stanley, he’ll be an ED in the Americas equities sales & trading team at Oppenheimer.
Fortuitously for Morgan Stanley, it also added an ED to its sales & trading team. Astin Pronio joined the bank in the US agency trading team after nearly 6 years with Barclays in New York. He was a portfolio manager for mortgage financer Fanni Mae before that.
Morgan Stanley’s cuts represent a small percentage of total headcount (some 4% of some 80,000 people) but are affecting the bank across all departments, seniority, and geography, with even reports of its Indian team being denied entry to its building in Bangalore. From what we’ve seen, however, it seems to be mainly business as usual in New York.
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