morgan-stanley-lays-off-leveraged-finance-bankers

Morgan Stanley lays off leveraged finance bankers

Peter Szekely and Ponty Singh are let go as part of a global drive to cut costs and as leveraged finance transactions slow to a trickle. Meanwhile, Lehman Brothers trims its headcount, but impact on Asia not yet known.
Morgan Stanley has let go of two of its leveraged finance bankers in Asia as part of a global round of job cuts that will reduce the bankÆs headcount by 5%.

A Hong Kong-based spokesman confirmed that the two bankers are Peter Szekely, a product specialist within the leveraged finance and acquisition business in Asia, and Ponty Singh, who worked on the client coverage side with a focus on leveraged finance origination and high-yield bonds in Southeast Asia and India. Both bankers were promoted to managing directors in December last year.

The US investment bank said a couple of weeks ago that it would initiate another round of job cuts in the wake of subprime-related...
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