Walid Chammah, the chairman of Morgan Stanley International is retiring, according to a person familiar with the matter.Chammah, who is 53 years old, is one of the top executives at Morgan Stanley. He serves as a member of the management and the operating committees. He was co-president of Morgan Stanley, with a mandate to oversee the firm’s institutional securities business, from 2007 through 2009.
The move is the latest of a series of high-level departures at Morgan Stanley, many of which were related to its fixed-income trading business. Chammah joined Morgan Stanley in 1993 as the head of U.S. Debt Capital Markets. He was viewed as closely allied with John Mack, the former CEO and chairman who retired last year.
Chammah was based in London.
Inside the company, there is speculation about whether this is an indicator about the results likely to be announced on Jan. 19. A source inside the company speculated that it could mean that the company had suffered worse-than-expected losses on exposure to European sovereign debt woes, many of which could have arisen out of businesses run from London and under Chammah’s purview.
The company could not immediately be reached for comment.