Details have emerged on significant cuts to Morgan Stanley's regional securitization coverage. The bank confirmed to FinanceAsia that the four members of the specialist ex-Japan Asia team - based in Tokyo but focused on other markets - headed by Cheng-Yi Tong, were actually let go at the end of last year, despite there being no official announcement of the move.
A source explained that the job losses were part of a general restructuring at the investment bank, but insisted that Morgan Stanley was not writing off securitization markets outside of Japan.
Because of the current environment, a number of people left the firm last year and this was related to...
