Senior Morgan Stanley bosses depart

Senior figures depart less than a month after the bank announced plans to cut 1,200 staff worldwide.

Two Morgan Stanley senior directors with combined service of 34 years have departed less than a month after the bank’s announcement to cut 1,200 jobs worldwide.

Stephen Souchon departs after 22 years with the bank having held responsibility for more than 300 staff in 10 countries, while Claire Wormald departs after more than 12 years with the bank.

Souchon was managing director, European Corporate Controller and director of the group’s Swiss Bank as well as holding several other functions.

Claire Wormald was chief operating officer for FX Emerging Markets (EMEA) and joined the company back in October 2003 in an audit and risk function.  She has since joined Dimensional Fund Advisors as global head of risk management, according to her profile on social media site LinkedIn.

At the beginning of December, Morgan Stanley confirmed it would be cutting 470 staff from fixed income, currencies and commodities and a further 700 from back office support roles.

220 of the 470 aforementioned FICC jobs are believed to be in the UK, according to media reports at the time.

Other departures since the announcement include Giovanni Pillitteri, global head of FX and interest rates electronic trading. Pillitteri had been with the group since joining from Citi in September 2012.

In December Amrik Sandhu, a senior executive in the commodities division left the bank along with Andres Cifuentes in the FX sales team.

A spokeswoman for Morgan Stanley was unable to comment on the moves at the time of publication. Souchon did not respond to a request for comment. Wormald could not be reached for comment at the time of publication.