Morgan Stanley’s India COO Said to Leave Bank
Nagpal, who joined the New York-based bank in 1999, left last week, the people said, asking not to be named because the information is private. The other departing staff come from Morgan Stanley’s investment banking, fixed income and research departments in India, they said.
Noel Cheung, a Hong Kong-based spokeswoman for the bank, declined to comment on the departures.
Morgan Stanley, which has more than 400 staff in India, plans to trim about 15 percent of investment banking positions in Asia as it starts a round of job cuts this week, two people with knowledge of the matter said yesterday. The investment bank is also deferring bonuses for some senior bankers and traders over three years, one person said.