Tuesday, May 24, 2005

Bank_Another high-level manager left Morgan Stanley

Morgan Stanley lost another high-level official yesterday, worsing the struggle for the company to retain the talents.

Mr McGuire, who had been co-head of global mergers and acquisitions since the autumn of 2003, announced his intention to resign internally yesterday, reported U.K,-based Financial Times.

Mr McGuire will move to Citigroup to head the unit of investment banking, after working on an $800m deal - Unilever's disposal of its fragrance unit to Coty in Morgan Stanley.

It is usual for the investment bankers to move around in this season, but now it seems a bit sensitive for Morgan Stanley to suffer from this.

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