Discover your dream Career
For Recruiters

DeRegt's not alone in fleeing Morgan Stanley. Nomura hiring everywhere

Morgan Stanley's fixed income business is in a state of upheaval, but anyone thrown off balance at the U.S. bank can seek solace at Nomura, which says it's hiring fixed income professionals worldwide.

In an unusual example of reverse nepotism in financial services, Ken deRegt, the 57 year old head of Morgan Stanley's fixed income business, has decided to leave Morgan Stanley and join Canarsie Capital Group, a new firm which happens to employ his son. DeRegt is being replaced at Morgan Stanley by two younger men: Michael Heaney, 49, and Robert Rooney, 46. Heaney and Rooney will be the new co-heads of fixed income sales and trading. Heaney is currently global head of credit sales and trading at Morgan Stanley. Rooney, is head of fixed-income sales and trading in Europe.

DeRegt's departure comes at a difficult time for Morgan Stanley's fixed income business, which didn't have a great first quarter, but is committed to maintaining its headcount. Financial News notes that the latest changes mean Morgan Stanley has had at least five different people running its fixed income division since 2007. 

Headhunters said Morgan Stanley's fixed income business has been leaking staff and that deRegt's not alone in quitting. Natalia Zhminko, a leveraged credit sales vice president has left, allegedly for Deutsche Bank. Rishi Singh, an executive director on the FX team has also left, allegedly for Brevan Howard. Colleagues of Zhminko's confirmed her departure and the Financial Services Authority register shows that Singh left in March. Bloomberg reported in April that Brian Perry, ex-head of real money sales at Morgan Stanley, is joining Toronto Dominion Bank.

"Around six people have left Morgan Stanley's European FX sales team in the past month," said one headhunter, speaking anonymously. Morgan Stanley declined to comment, but an insider said that this sounded like an exaggeration and that staff turnover was no higher than usual.

Nomura hiring in fixed income 

Fixed income professionals who get out of Morgan Stanley could join Nomura. Atsushi Yoshikawa, chief operating officer at the Japanese bank, said Nomura is hiring fixed income professionals in Asia, the U.S. and Europe.

Nomura declined to comment on the numbers it plans to hire, but a Nomura spokeswoman told us the bank is hiring "selectively" where it sees, "good opportunities for growth in global markets.” 

One headhunter who works with Nomura bank said the bank is hiring "across the board" in fixed income, with a particular focus on Asia.

AUTHORSarah Butcher Global Editor

Apply for jobs

Find thousands of jobs in financial services and technology by signing up to eFinancialCareers today.

Boost your career

Find thousands of job opportunities by signing up to eFinancialCareers today.
Latest Jobs
State Street Corporation
Java / Unqork Developer - State Street Global Advisors, AVP
State Street Corporation
Boston, United States
Eq Deriv Trader (hedge fund)
New York, United States
Sr Analyst - Event-Driven
New York, United States