Smith To Leave Morgan Stanley
Bram Smith, head of loan syndications at Morgan Stanley, is leaving the securities firm seven years after he joined to start a loan syndication business. Smith declined comment, but a Morgan Stanley spokeswoman confirmed that he was scheduled to depart the firm. His last day on the desk was Friday and he officially leaves the firm at the end of the month. Bankers said Smith's role at Morgan Stanley had diminished some over the past few years, surmising his reasons for departure. Smith left his spot as co-head of the syndications group at Bankers Trust to join Morgan Stanley in 1996, when investment banks were raiding commercial banks for seasoned pros that could get lending efforts off the ground. Lucy Galbraith, a managing director at Morgan Stanley, is reportedly filling Smith's shoes upon exit, but the spokeswoman could not confirm this. Galbraith did not return calls for comment.