Joseph Philips, an asset-backed securities analyst who specialized in aircraft securitization, has resigned from Morgan Stanley where he worked for the past five years. "We are sorry to see him go, but Joe has decided to leave the business and pursue personal plans," says Chip Schorin, managing director and head of global ABS research. Prior to joining Morgan Stanley, Philips worked in the securitization field for eight years at Salomon Smith Barney.
Research coverage on aircraft ABS will be covered by Doug Runte, executive director and senior analyst for fixed-income transportation research, who already covers the aircraft industry on the unsecured side, including Enhanced Equipment Trust Certificates (EETCs). Philips could not be reached for comment.