There’s more evidence that senior investment bankers who left Morgan Stanley late last year are finding new employment in interesting vocations.
For a start, Mark Glengarry, a managing director in its investment banking division who joined in 2012 and left last year, has signed up to the UK arm of distressed debt hedge fund Anchorage Capital as a managing director.
This is another evolution in an already varied career for Glengarry, who is a restructuring and insolvency expert. He joined Morgan Stanley after 13 years working in law, latterly as a partner in the financial restructuring and insolvency practice of White & Case in London. Glengarry joined up to the hedge fund last year, but has just reappeared on the Financial Conduct Authority register as an Anchorage employee.
Meanwhile, Francesca Tondi, a managing director and co-manager of Morgan Stanley’s European banks equity research team, also departed late last year and has since been focused on various investment projects including being an angel investor in ClearlySo, an impact investment firm, and a member of the board of Angel Academe – an investment firm that connects female investors with tech start-ups with at least one woman on the founding team.
Most of the senior people departing from Morgan Stanley in recent months have been within the fixed income currencies and commodities (FICC) division, which axed 25% of its headcount in November late last year. However, these moves show that senior investment bankers in other business areas are also reinventing themselves.
Of those to depart in FICC, some – like European head of credit analytics, Thomas Moore – have moved to the buy-side. Moore joined Invesco as a senior analyst earlier this month. Others have joined rival banks.
Meanwhile Oliver Jerome, a former MD and head of FX and emerging markets trading, and Pete Eggleston, the former head of quant solutions and innovations, have started their own FX analytics firm, BestX.