Morgan Stanley Fixed-Income Veteran Leaves

Morgan Stanley HQ

Ken deRegt, a Morgan Stanley veteran called on to revamp risk-management and the fixed-income trading business after returning in February 2008, is leaving again to join investment firm Canarsie Capital Group.

Bloomberg reports DeRegt, 57, will be succeeded by Michael Heaney, 49, and Robert Rooney as global co-heads of fixed-income sales and trading, according to a staff memo from Colm Kelleher, who oversees investment banking and trading for Morgan Stanley. Kelleher and Chief Executive Officer James Gorman sent a separate memo about deRegt’s departure.

He 'proved invaluable in steering the firm through the financial crisis of 2008 and its aftermath', Gorman and Kelleher wrote. 'Our fixed-income business is more stable, focused and better aligned with the rest of the firm than it has been in some time, due in large part to Ken and his team'.

DeRegt will become a partner at Canarsie Capital, which will be a Morgan Stanley client, according to the memo from Gorman and Kelleher.

Hit the link below to access the complete Bloomberg article:

Morgan Stanley Fixed-Income Veteran deRegt Leaves for New Firm

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