Remember Morgan Stanley's fixed income redundancies? Remember how, back in December, Morgan Stanley shocked the world by parting company with 25% of its fixed income professionals globally? Some of them are finding new roles.
Kevin Edwards, a former executive director in credit trading at Morgan Stanley, joined SocGen in a similar role in April. Edwards spent twelve years at Morgan Stanley before leaving in January. He was out of the market for a mere three months before turning up at SocGen.
Even better, Thomas Moore, a former managing director and European head of credit analytics at Morgan Stanley, just joined Invesco Perpetual as a senior analyst. Moore arrived at Invesco in June - six months after we heard that he left Morgan Stanley. Moore worked for the U.S. bank for eleven and a half years.
Some of those let go at the same time as Moore still appear to be out of the market. Isabel Mahoney, former co-head of investment grade trading at the U.S. bank, has yet to resurface elsewhere. However, Oliver Jerome, a former Morgan Stanley MD and head of FX & emerging markets EMEA, trading, structuring and sales, has set up BestX, an FX analysis service with former colleagues. Various other Morgan Stanley fixed income people have turned up at Scandinavian banks in Copenhagen and Stockholm.
Moving to the buy-side is hard. Buy-side firms are small compared to investment banks and there are far more former bankers who'd like to move to the buy-side than there are slots for them. In this sense, Moore in particular has fallen on his feet. Even better, Invesco Perpetual's offices are in leafy Henley on Thames, which is probably a pleasant change after eleven years in London's Canary Wharf.