Morgan Stanley loses traders to rivals

Morgan Stanley building

Morgan Stanley lost three emerging-market bond traders to competitors, according to people with knowledge of the matter.

Bloomberg News reports that sovereign-bond trader Elias Abud and corporate-bond traders Georges Fernandes and Johann Komander departed in recent weeks, said the people, who asked not to be identified discussing personnel. Abud left for Nomura, Fernandes for BNP Paribas, and Komander for Goldman Sachs, according to the people. Representatives for the banks declined to comment, as did the traders.

Traders across Wall Street sometimes leave in the weeks after getting their bonuses in the hopes of finding better pay elsewhere. Compensation at Morgan Stanley declined 10% last year to $16bn. Wall Street’s average bonus fell 9% to $146,200 in 2015, the biggest drop since 2011, according to estimates by New York State Comptroller Thomas DiNapoli.

To access the complete Bloomberg News article hit the link below:

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