Goldman Sachs has lost another par loan player to Morgan Stanley. Michael Weir has left to join Roger Gilbert, Michael Henderlong and Dan Allen who moved from Goldman to Morgan Stanley in February. Weir had been working at Goldman since June 1998. Sources said that Morgan Stanley has been expanding its secondary loan trading business, especially its par operations, following the trend of larger banks looking to build a one-stop-shop for customers. "A year ago if I did business with them, it was only on the distressed side," said one market player, who noted that now the firm has a strong par presence. Officials at Morgan Stanley were unavailable for comment. Calls to Steve Hickey, Goldman head of loan sales and trading, were not returned by press time.
Promoted By Euroclear
Read the magazine on your mobile device
Want full access to GlobalCapital?
If you are new to GlobalCapital or you already subscribe to some of our channels you can still easily extend your access.
Take a trial to the entire site or subscribe online to see all our capital markets news, opinion and data sets.
Don't miss out!Free trial
|Rank||Lead Manager/Arranger||Total Volume $m||No. of Deals||Share % by Volume|
|2||Bank of America Merrill Lynch (BAML)||6,901||20||10.32|
Bookrunners of Global Structured Finance
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|1||Wells Fargo Securities||68,611.22||170||11.38%|
|2||Bank of America Merrill Lynch||59,056.08||169||9.80%|