Scott Balkan, a credit derivatives trader at Morgan Stanley in New York, has left the firm. Balkan's departure came after bonuses were cleared at the derivatives house, although his departure is not thought to be directly related to his remuneration, according to officials. Morgan Stanley is one of the first firms to pay bonuses.
Balkan, who could not be reached, reported to Michael Pohly, head of credit derivatives trading in New York, according to Mark Lake, spokesman in New York. He declined to comment on whether he will be replaced. Pohly did not return calls. It could not be determined whether Balkan has joined a competitor.