People News - Citi, Morgan Stanley

Citigroup has said David Cohen, head of flow-credit trading in its European region, is leaving the bank after six years.

Bloomberg News reports that Cohen will continue to manage the bank’s investment-grade trading desk until the end of June, according to an internal memo.

Amit Raja will lead high-yield trading in Europe, the Middle East and Africa, in addition to his roles as global head of distressed trading and regional head of par loan trading, according to the memo.

In the meantime, Bloomberg also reports that Morgan Stanley commodities co-chief Peter Sherk plans to exit the firm, leaving Nancy King sole head of the unit.

Fixed-income trading head Sam Kellie-Smith announced King’s expanded role in a memo to staff with immediate effect after Sherk informed the bank of his decision. Commodities chief operating officer Martin Mitchell also left the company, according to a person briefed on the matter. Sherk and Mitchell couldn’t immediately be reached for comment. Reuters reported their departures earlier Thursday.

Finally, Bloomberg reports that W.R. Berkley Corp., the Greenwich, Connecticut-based commercial insurer, named former Morgan Stanley investment banker Jared Abbey as senior vice president for corporate strategy and development.

Abbey previously worked as a banker focusing on mergers and acquisitions, corporate restructurings and capital-raising in the insurance industry, W.R. Berkley said Thursday in a statement.

Citigroup Says Credit Trading Executive David Cohen to Leave

Morgan Stanley Commodity Co-Head Sherk Exits; King Expands Role

W.R. Berkley Hires Ex-Morgan Stanley Banker for Strategy

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