People News: Morgan Stanley

Departure

Thomas Doster, the head of Morgan Stanley’s principal investment business, is preparing to start a money management firm that will purchase assets from the bank.

Bloomberg News reports that the firm’s initial fund, Eight Bar Financial Partners I, will manage a portfolio of assets to be acquired from the bank, according to a regulatory filing.

The firm, Eight Bar Partners, also plans to manage private funds that focus on distressed debt and make equity investments in private energy, health-care and “consumer-facing” companies.

In the meantime, Bloomberg also reports that Morgan Stanley, which plans to cut as much as a quarter of its fixed-income staff globally, has named David Flowerdew as head of U.S. Treasuries trading.

Flowerdew will add the title to his current position as head of U.S. swaps, said Mark Lake, a spokesman for the New York-based bank, one of 22 primary dealers that trade Treasuries with the Federal Reserve.

Morgan Stanley's Doster Plans His Own Firm to Buy Bank's Assets

Morgan Stanley Names Flowerdew Top Treasury Trader Amid Cuts

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