Morgan Stanley’s German chief Dirk Notheis left the bank’s local executive board and won’t return to his post, Stuttgarter Zeitung reported, citing an unidentified person familiar with the matter.
Notheis stepped down because of criticism over his involvement in the state of Baden-Wuerttemberg’s purchase of a stake in EnBW Energie Baden-Wuerttemberg AG (EBK), the newspaper said.
A spokeswoman for the lender declined to comment immediately on the report.
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