Morgan Stanley's recent job cuts included various London credit traders

Morgan Stanley is cutting jobs, again. The recent cuts reportedly involved "shifting business locations," but it seems they also involved cutting some European credit traders.

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We understand that various people have vanished from the US bank's credit desk in the past week. They include: Klaus Plattner, a senior CDS trader who joined from BNP Paribas in 2023; James Nowak, a senior corporate bond trader who joined from Citi the same year (and who may have resigned rather than being pushed); Aldo Olcese Pi, a credit salesman based in Madrid; and - it's thought - Florent Morizot on Pattner's team. 

The CDS team, which was only small to begin with, is thought to be heavily depleted as a result.

Morgan Stanley declined to comment. A senior trader at another US bank said various members of the team have approached him in search of new jobs.

Morgan Stanley's global credit team is led by Rehan Latif, who been stamping his own authority on it. There were various departures last year, including that of Herbie Filho, who left for Jain Global, where under appreciated 35 year-olds are popular. Filho is understood to have left Jain recently for health reasons.

Credit traders have left various banks in recent years as desks have been hit by electronification. "It seems Morgan Stanley is focusing on the algo business now," the rival trader suggested.

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