More professionals, including securitization staff, are continuing to leave Morgan Stanley, published reports have indicated. 

Patrick Lynch, head of European credit sales and trading at the investment bank, is among the professionals leaving the bank, according to a Bloomberg report.

According to the Bloomberg report, Fernando Ortega, the head of emerging market fixed-income sales and trading, Amanda Webb, who was on the securitization sales desk. as well as Janko Nedic, a CLO salesman, are also among the latest departures at the bank.

The bank said last month in a filing that more than a third of the 1,600 layoffs it announced earlier this month may be in New York City.

The company disclosed in a filing with the New York Department of Labor that it may lay off 580 employees at its offices at 1 New York Plaza, 1585 Broadway, 750 Seventh Avenue and 1221 Avenue of Americas. The filing said the rolling layoffs began Dec. 15.

The 1,600 job cuts, comprising roughly 2.6% of the firm's 62,648 employees, will happen globally at all levels of the company.

 

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.