Morgan Stanley is ramping up its London high-yield desk, recently adding one salesman and a trader. The firm is also looking to add to its high-yield research team, say high-yield traders and salespeople. "They're trying hard to recruit there," notes one. So far, Morgan Stanley has hired Tom Crystal, a salesman, formerly of ABN AMRO, which integrated its high-yield and investment-grade businesses earlier this year. In addition, Brian Eastwood has joined from Goldman Sachs to trade distressed debt. Crystal and Eastwood, who could not be reached for comment, will report to Pedro Urquidi, head of high-yield sales and trading. A spokeswoman at Goldman was unable to confirm Eastwood's departure by press time. A spokesman at Morgan Stanley declined to comment.
Morgan Stanley Makes HY Hires In London