Morgan Stanley staff are waiting to learn if they will be hit by wide-ranging cuts reportedly being considered by the bank.
On Tuesday, Bloomberg reported that the investment bank was considering a reduction in headcount following a fall in fixed income revenues in the bank’s third quarter figures.
When contacted by The TRADE, Morgan Stanley spokesman Hugh Fraser declined to comment.
The news comes after a handful of departures in recent months including the former head of collateral management for the EMEA region, Daniel Leigh, who left after more than seven years with the group.
Credit trader Benjamin Ayres left the business in October to join Credit Suisse while rates trader George Yifan Tan left the business earlier in the year to join Balyasny Asset Management.
According to the bank’s third quarter figures released in October, net revenues for fixed income and commodities sales and trading stood at $583 million in 2015, down from $997 million in the same quarter of 2014.
In a statement made at the time of the results, Morgan Stanley’s chairman and chief executive officer James Gorman attributed the revenue fall to uncertainty in certain regions.
“The volatility in global markets in the third quarter led to a difficult environment, impacting in particular our Fixed Income business and our Asia Merchant Banking business.
“Our business model provides a steady foundation for the firm as we navigate these challenging markets and focus intensely on addressing areas of underperformance.”