Srini Dhulipala, executive director and high-yield technology, media and telecom trader at Morgan Stanley, has left the firm and will join Banc of America Securities. He will co-head credit trading at BofA with Mike Meyer, according to market participants. Dhulipala was among Morgan Stanley's best and most profitable traders, said a former colleague.
Mark Lake, spokesman for Morgan Stanley, said Dhulipala has not yet been replaced and his responsibilities are being assumed by other members of the desk in the short-term. Dhulipala and Meyer did not return calls and Louise Hennessy, spokeswoman for BofA, declined comment.
Morgan Stanley, of course, has been hit by senior-level departures across business lines in recent weeks amid some well-publicized turmoil. Recent departures from the credit sales and trading staff include Armin Rothauser, high-yield trader; Brad Roberts, credit derivatives trader; Steve Rosen, high-yield salesman; Mike Donoghue, head of U.S. credit sales; Catherine Frey, executive director in high-yield sales; and Marc Badner, executive director in credit sales (BW, 4/4).