Morgan Stanley has told several members of its secured funding desk that their jobs are at risk, as part of a major restructuring effort, with Simon Picton and Paul Furzer the first names confirmed to have left.
Furzer joined the bank in 1997 and most recently served as executive director and equity finance trader based in London.
Elsewhere, Picton took on the role of securities finance sales and trading as part of Morgan Stanley’s bank resource management business.
He went on to become vice president in September 2019.
Picton joined the bank from Euromoney Institutional Investor, where he served as a member of its business development team for its trade publication Global Investor/ISF between 2007 and 2011.
As many as 1,500 jobs could be cut as part of the restructuring plan to reduce costs by switching to more automated processes.
The majority of roles are understood to be based in London and New York.
Morgan Stanley declined to comment on the recent departures.
