Morgan Stanley’s wealth management business in London has lost nine staff in the last two months—one of the largest loss of staff for a weal...

Morgan Stanley’s wealth management business in London has lost nine staff in the last two months—one of the largest loss of staff for a wealth manager in such a short period of time. So far the US bank has lost relationship managers Tarek Mooro, Fedrick Plyhr, and Eran Ben-Zour in May. Their departures follow Andrea Brignone and Carlo Michienzi from the bank’s Italian wealth management business. Also in May, the bank lost from its fixed-income department of its private wealth management unit Riccardo Farisi, who joined Merrill Lynch in Milan. And Davide Basile has also departed from Morgan’s fixed-income department. Morgan Stanley also recently lost Matteo Pusineri, who ran fixed-income investments for the private wealth management group, and Randol Curtis, who oversaw the convertible securities desk. Mr Pusineri and Mr Curtis left to join Andrea Brignone and Carlo Michienzi, to start a new venture. Hugh Fraser, a spokesman for Morgan Stanley, admitted to WealthBriefing the departures added up to a large number, but added: “We are actively looking to hire and expand the business.”