Morgan Stanley has lost a clutch of structured credit officials in Asia and Europe. The resignations appear unconnected and some see them as typical of the annual post-bonus merry-go-round. But a concentration of London departures may have left the structured credit desk in Europe underweight.Jerome Anglade, head of structured credit marketing in London, referred calls to the press office, which had nothing to say.
As first reported on DW's Web site last Tuesday, Aditya Rana, head of credit derivative sales and structuring in Hong Kong, has been tapped by AIG Financial Products to establish a CDO structuring effort for Asia (see page 1). In London, Tony Venutolo, executive director in structured credit marketing, is gone and may be moving toSG Corporate and Investment Banking.
One recruiter said the effect will be miniscule because the team, although smaller than other bulge bracket houses, is more niche-focused and entrepreneurial.
The departures come after London-based Chris Boas, head of correlation trading, resigned last month and Rodrigue Afota, a senior structurer, left in December to do credit structuring for IXIS Corporate & Investment Bank in Paris. Boas is expected to join hedge fund Citadel. In addition, Ryan Chan, a v.p. in credit structuring, is reportedly moving to UBS. He declined comment on his new employer when reached on his cell.
Spokesmen for SG CIB and UBS either couldn't be reached or didn't know anything.
