Morgan Stanley's head of European leveraged credit trading has resigned. Robert Lepone, who oversaw various teams, including high yield bonds, leveraged loans, credit default swaps and distressed debt, left Morgan Stanley's London office for personal reasons, a spokesman said. His replacement will be announced in the coming weeks, the spokesman said, declining to comment further. Lepone's departure comes less than two weeks after Joseph McManus, a vice president with Morgan Stanley's investment-grade credit products group, left to join CastleOak Securities' fixed-income sales team.

Paul Levy has joined Prytania Investment Advisors as a partner. Levy will assist Prytania's clients in managing their structured finance and credit portfolio risk. He was the former head of credit structuring EMEA at Merrill Lynch. Before his role at Merrill, Levy worked at Deutsche Bank and Morgan Stanley.

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