Yesterday we reported that Deutsche Bank has been making senior hires from Morgan Stanley. Today we can report that someone moved in the opposite direction.
Shayak Barman, head of CEEMEA structuring at Deutsche Bank, left last week. He is understood to be joining Morgan Stanley in March. Both banks declined to comment.
According to an internal memo seen by eFinancialCareers, Deutsche's CEEMEA structuring team will now be led solely by Barman's co-head, Irina Dudkina.
Last year, Morgan Stanley's emerging markets business in London was hit by losses of around $140m relating to the mis-marking of Turkish lira securities by an associate, creating fears that bonuses will be down for the year. It's not clear who Barman will replace at the U.S. bank, or whether this is a new role. He's not the only ex-Deutsche Bank trader to move to Morgan Stanley's emerging markets desk. Morgan Stanley hired former Deutsche Bank trader Kay Haigh from a hedge fund to run emerging markets in 2015, but let go of him a few months later when Morgan Stanley cut 30% of his team in the big restructuring of its fixed income business.
Barman joined Deutsche Bank in 2009, according to the FCA Register. Curiously, he has chosen to leave Deutsche Bank only months before bonuses are paid.
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