Across Wall Street, the New Year continues much as the old one ended: with layoffs.
The latest firm to reduce staff, particularly at a senior level, is Morgan Stanley.
The Financial Times is reporting that three senior members of Morgan Stanley’s equities business have left the firm:
Richard Evans, head of the group’s Delta One strategy, Bill Templer, global co-head of listed derivatives and Divya Doshi, managing director for listed derivatives in Singapore have all departed from the bank.
The departures come in the wake of yesterday’s announcement that Eric Grossman, the firm’s chief legal officer would take on reduced responsibilities before fully departing the firm mid-year.
Morgan Stanley released the fact that it would shed 1,600 employees in mid-December in a bid to comply with global regulatory capital requirements and respond to slowing business and a weak global economy.