People News: Citigroup, Morgan Stanley

Ilker Ertas, head of a desk that trades mortgage bonds at Citigroup, resigned this week, according to a person briefed on his departure.

Bloomberg News reports that Ertas is joining Annaly Capital Management, according to other people, who asked not to be identified discussing personnel matters.

Annaly, which ended 2014 with $88.4bn of assets, is the largest real estate investment trust that buys mortgage debt.

In the meantime, Bloomberg News also reports that Morgan Stanley named Michael Levy head of traditional asset management, replacing Arthur Lev, who will become chairman of the investment-management division.

Levy, a 17-year veteran of the firm, was previously head of merchant banking and real estate investing capital markets, according to an internal memo obtained by Bloomberg News. Alternative Investment Partners, the fund of funds business that Lev also oversaw, will now report to Ed Moriarty, head of merchant banking and real estate investing.

Citigroup Mortgage Trader Ertas Said to Leave for Annaly Capital

Morgan Stanley Names Levy to Lead Traditional Asset Management

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