Morgan Stanley is looking to hire a number of compliance and legal officers, a person familiar with the matter has told the subscription only website Compliance Reporter.
Lawyers, especially in New York City, have been hit hard by the devastation of Wall Street. Latham & Watkins, a firm heavily involved in the bond business, recently fired hundreds of lawyers. Thacher Proffitt & Wood did a lot of its business for Bear Stearns and was one of the biggest securitization firms in New York.
And it’s not just law firms that have been laying off laywers. Lawyers at Merrill Lynch have recently been let go, replaced by their counter-parts at Bank of America. A similar fate was met by lawyers at Bear Stearns and Lehman Brothers.
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