Morgan Stanley has lost most of the senior bankers on its New York consumer and retail team. Sources say at least four senior individuals left last week.
Morgan Stanley declined to comment on the exits, the most senior of whom was David Ciagne, global head of the consumer and retail business. Other disappearances included Emiliano Roman and Irina Adler, a managing director on the same team, plus Dustin Bertram, an executive director on the team.
The exits, which were understood to take place last Monday come after Morgan Stanley cut 1,500 jobs earlier this month predominantly in the middle and back office.
Ciagne joined Morgan Stanley in 2001 according to his FINRA profile. Roma, Adler and Bertram were understood to have been his hires.
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