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Morgan Stanley promoted these 9 equities MDs after making 12 layoffs

Morgan Stanley not only just announced its bonuses, it also announced who it's promoting to managing director this year.  Yesterday, the U.S. bank told 153 executive directors that they'd made MD. We understand that nine of them were in the equities division, where Morgan Stanley laid off 12 people on Monday - just before bonuses were divulged.

The promotions were understood to include:

Venkat Boppana, the co-head of Morgan Stanley's electronic trading business in Asia, based out of Hong Kong. He's worked for Morgan Stanley for over ten years after joining from ETrade in Hong Kong.

Mark Bortnik, the European Head of Listed and OTC Clearing Sales. He joined MS from J.P. Morgan in 2010. Based in London.

Richard Caskey, a senior strategist in the European equity finance team. He joined MS from J.P. Morgan in 2008. Based in London.

Lancelot Comrie, the New York-based global head of systematic advisory sales. He's been at Morgan Stanley since 1998.

Eric Govind, the London-based head of single stocks and emerging markets equity derivatives trading. Joined Morgan Stanley from Goldman in August 2015.

Bill McGeogh, the New York based head of Morgan Stanley's quantitative client facing business for the electronic trading business. He's been with Morgan Stanley since 2003.

Ryan O'Hagan. Based in the U.S. Joined Morgan Stanley in 2009. 

Christopher Owens, head of U.S.sales and bank resource management at Morgan Stanley in New York. Joined in 1998.

April Smith. Member of the U.S equity derivatives team. Joined in 2006. Also part owns a vegan restaurant in Manhattan.

David Willmore, Algorithmic trading quant, based in NYC and leading the quantitative Research team responsible for the core algorithmic trading platforms for equities trading. Joined after graduating with a PhD in computer science from the University of Manchester in 2007.

Morgan Stanley didn't respond to a request to comment on either the promotions or the pre-bonus, pre-promotion layoffs. The redundancies are understood to have been across the team, with associates and VPs disproportionately impacted. Revenues in Morgan Stanley's equities business were up 13% year-on-year in the first nine months of 2017.

Outside of equities, Morgan Stanley's promotions are understood to have included Niamh Staunton who runs UK/Ireland/Germany FIG debt capital markets and Mutlu Gunner, an MD in the London natural resources group.


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AUTHORSarah Butcher Global Editor

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