Morgan Stanley has backtracked on hiring a senior dealmaker who was due to join in August.
The US bank had named former JPMorgan investment banker Thomas Christl as co-head of consumer and retail investment banking for Europe, the Middle East and Africa, but he will no longer be joining the bank, according to people familiar with the matter.
Christl was hired to co-head Morgan Stanley’s consumer and retail investment banking business in Emea alongside Imran Ansari, who currently leads the region’s team, Financial News reported in June.
Spokespeople for Morgan Stanley and JPMorgan declined to comment. Christl has been contacted for comment.
An internal reshuffle at Morgan Stanley last year saw Nick Bishop, who was head of leisure and retail investment banking in Emea, promoted to co-head of financial sponsors in the region alongside Teodor Todorov in November.
Christl spent 17 years at JPMorgan and was latterly a managing director within its consumer and retail investment banking team. He departed the bank on 23 April, according to the Financial Conduct Authority register.
Morgan Stanley is emerging from a cost-cutting programme that saw 3,500 jobs lost across the organisation, its chief executive James Gorman told a bank conference on 13 June. In its Emea investment bank, around 70 bankers have been cut including 10 managing directors, FN reported.
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