Michael Dillon has left Morgan Stanley, where he was an executive director and investment-grade trader focusing on financial sector credits of short maturities. He will join Goldman Sachs in a similar role as a v.p. after a brief "gardening" leave, reporting to Paul Huchro, head trader. The position is a new one, according to one person familiar with the situation. Huchro declined comment, and Dillon could not be reached.
Tom Thees, head trader at Morgan Stanley, says Huchro was a good trader, who will be missed. He has still to determine what to do about a possible replacement.