Jon Anda, co-head of global capital markets at Morgan Stanley, has quit the bank to join Joseph Perella and Terry Meguid, two former senior Morgan Stanley bankers, at the firm they are setting up.
Perella, a legendary M&A dealmaker, and Meguid, quit Morgan Stanley last year in a leadership battle at the Wall Street bank.
It is the third high-level defection suffered by Morgan Stanley since the recent round of bonuses. This week the bank's country heads for India and China also stepped down.
Perella confirmed Anda had agreed to join his team as it considered the formation of a new financial services firm.
He said in a statement: "We look forward to the benefits of his strategic counsel and proven experience, both to us and our clients, as we go forward."
Perella said he would not elaborate on the statement at this time.
A Morgan Stanley spokesman did not return a call seeking comment.
Anda most recently served as co-head, alongside Franck Petitgas, of global capital markets.
The group is responsible for debt and equity issuance, leveraged finance, derivatives, lending, structured finance, pensions, and other financial products.
During his 20 years at Morgan Stanley, Anda also served as global head of corporate finance, global head of equity capital markets, head of institutional equity in Asia, head of investment banking in Asia, and global head of equity syndicate.