Morgan Stanley has hired a trio of ex-Fleet Securities loan pros including Todd Dahlstrom, Michael Cunningham, and Eric Vandermel following Fleet's merger with Bank of America. As first reported on LMW's Web site last week, Dahlstrom and Cunningham will be joining Morgan Stanley's sales team and will report to Roger Gilbert, head of the firm's bank loan and distressed sales. Vandermel will be joining the firm's research team and will report to Andrew Brenner, head of distressed debt research at Morgan Stanley. The team will begin their new roles on May 1.
Market participants said the trio would remain in Boston. A few traders speculated that Dahlstrom and Cunningham would focus on New England accounts. They probably have some very solid relationships in the region, said one trader. Others suggested that the Morgan Stanley salespeople that covered some of the bigger New England accounts would retain their clients and the new sales duo would be tapped for their middle-market experience. Dahlstrom, Cunningham, and Vandermel could not be reached.
Morgan Stanley has seen some comings and goings over the last couple of months with Morgan Edwards and Nancy Wilson Brothers leaving the firm. One buysider said the firm had also lost two off its research desk as well--one to a buyside account and one to the firm's operations in Asia. Morgan Stanley then hired Jason Colodne from Goldman Sachs for its distressed research group last month. Vandermel will also bulk up that group. Calls to officials at Morgan Stanley were referred to a spokeswoman who confirmed the hires.