Morgan Stanley German Chief Notheis Steps Down, Stuttgarter Says

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.

To contact the reporter on this story: Cornelius Rahn in Frankfurt at crahn2@bloomberg.net

To contact the editor responsible for this story: Kenneth Wong at kwong11@bloomberg.net

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