Industry veteran and former co-head of European electronic trading at Morgan Stanley, Rupert Fennelly, has found a new role at Barclays, The TRADE understands.
Fennelly joined Barclays on 30 March as EMEA head of electronic equities sales and coverage, after departing Morgan Stanley in the summer last year. A spokesperson at Barclays declined to comment.
Fennelly, who also worked at Credit Suisse for several years, spent almost a decade at Morgan Stanley where he oversaw the electronic trading business. He joined as head of Morgan Stanley Electronic Trading (MSET) for the Americas in 2010, before leading the European arm from 2014. Most recently, Fennelly co-headed the business in Europe alongside Kevin Twitchen.
Fennelly reports to Naseer Al-Khudairi, global head of markets electronic trading and digital strategy at Barclays. He also replaces Matthew Cousens, who previously served as head of execution sales for Barclays until his departure in November.
Cousens was hired by Barclays in June 2018 after spending more than 11 years at Credit Suisse leading the bank’s algorithmic trading sales for Europe as co-head of advanced execution services (AES) sales for EMEA.
Morgan Stanley has seen a string of senior departures in its trading division so far this year. Former executive director and head of execution services sales, Jessica Morrison, is set to leave the bank in June for a senior role at Virtu Financial.
Elsewhere, senior equity sales trading head for Germany and Switzerland, Sara Woerner, is due to join Goldman Sachs to head up the equities execution business for Germany and Austria. In Asia, Morgan Stanley veteran and head of Asia equities sales trading in Hong Kong, Paul Fitzgerald, departed the institution after nearly 15 years to join outsourced trading firm, Outset Global.