Three of Morgan Stanley's most senior leveraged finance bankers are understood to have left as the US bank becomes the latest to scale back lending activity following a collapse in deal activity in the past nine months.
Headhunting sources said Ashok Nayyar, co-head of Morgan Stanleyâs leveraged finance business, has left the bank, leaving Peter Bacon as the sole remaining head of the business. Michael Hart, a third co-head, left the bank earlier this year.
