 |
|
|
|
Deutsche Hires 8 Morgan Stanley TradersPOSTED April 21, 2005 NEW YORK, NY -- More employees continue to leave embattled Morgan Stanley. Deutsche Bank Securities announced that Robert Karofsky will join the firm as a Managing Director, Global Head of Program Trading & Direct Markets Access and Americas Co-Head of Cash Equities. Karofsky will join Deutsche Bank after 14 years at Morgan Stanley, where he was most recently Managing Director and U.S. Head of Cash Equity Trading. Additionally, the firm announced that Joseph Ferrarese will join as Managing Director and Americas Head of Cash Trading, reporting to Karofsky and Manlowe. Ferrarese also will join from Morgan Stanley, where he was Managing Director and Head of New York Stock Exchange Floor Operations. Ferrarese had been with Morgan Stanley for 17 years and held prior positions as Risk Manager for U.S. Cash Trading and Head of NASDAQ Trading. Other additions to Deutsche Bank's Cash Equities Trading team will include Donald Healy, Brian Rigney and Eric Shenker as Managing Directors and Brian Dugan, William Mathews and John Pastorelli as Directors. All will join from Morgan Stanley. "Commitment to clients, excellence in risk management and innovation have been pillars of Global Markets' strategy. Robert and his team share these values," said Anshu Jain, Head of Global Markets and a Member of the Group Executive Committee. "They will be integral to our ongoing drive to achieve market leadership in North America and in cash equities globally." "Having a strong presence in U.S. equities is vital to our overall success in the region," said Gahan. "Hiring world-class professionals like Robert to run our business is the strongest sign of our determination to continue investing in our U.S. securities platform." "These hires demonstrate Deutsche Bank's commitment to providing our clients with the best coverage and execution in the equities product set," added Reynolds. "We're also delighted to have this opportunity to allow David Baker to fulfill his longstanding ambition to move into a proprietary trading position." Several top executives and Vice Presidents at Morgan Stanley have resigned over the past month after former executives criticized the leadership of company CEO Philip Purcell and his management style. Purcell has refused to step down from his post. |
|