Another Senior Defection from Morgan Stanley in London

The brain drain at Morgan Stanley continued last week with the defection of its head of UK banking, Michael Tory, jumping ship to rival Lehman Brothers. This announcement comes on the heels of technology banking head Dhiren Shah’s departure the previous week--all in the wake of John Mack’s taking of the helm. Tory is the third senior MS banker to cross over to Lehman this year. Word has it that Tory did not receive a guarantee from Lehman which we find a little difficult to believe.
Top Morgan Stanley Man Joins Rival [Financial Times]

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