One of Lehman Brothers' most experienced fixed-income traders has left less than nine months after he was put in charge of one of its biggest businesses and just over a year after joining the US bank.

Brynn Lewis, co-head of European high-grade credit trading, has resigned to join Morgan Stanley as a managing director and trader in its European credit trading business. Lewis joined Lehman from JP Morgan, where he was a proprietary trader, in July last year, and was made co-head of high-grade credit trading with Peter Duenas-Brockovich six months later. Duenas-Brockovich will continue as sole head of the business, reporting to Tarun Jotwani, co-head of fixed income. Lewis will join Morgan Stanley this month and report to Patrick Lynch, head of European credit trading. Market sources say Morgan Stanley wants to build its credit trading business and Lewis will be important in achieving this. Debt market sources say Lewis is thought to have traded the greatest range in the type of credit he dealt in at Lehman Lehman Brothers is not the only bank to have recently lost fixed income traders. Last week, Stephen Blyth, head of Deutsche Bank's rates proprietary trading team, went to the Harvard Management Company, which manages the university's financial investments.
Lehman Brothers and Morgan Stanley declined to comment.