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.
Morgan Stanley Poaches One More From Goldman