Morgan Stanley’s Barany Leaves as Co-Head of Global Structuring

Jeff Barany, Morgan Stanley’s co-head of a group that creates fixed-income securities for institutions and wealthy individuals, has left the bank and the business will be run by Davide Menini, his counterpart in London.

Barany, a managing director in New York, confirmed his departure yesterday in a telephone interview. He joined the bank in 1999, according to online records of the Financial Industry Regulatory Authority.

Menini, who was co-head with Barany, will now lead global macro structuring on his own, said two people with knowledge of the moves who asked not to be identified because they haven’t been announced publicly.

Lauren Onis, a spokeswoman for Morgan Stanley in New York, and Menini declined to comment.

Morgan Stanley is the top issuer of structured notes in the U.S. this year, selling $1.16 billion of the securities, according to data compiled by Bloomberg.

Banks create structured notes by packaging debt with derivatives to offer customized bets to retail investors while earning fees and raising money. Derivatives are contracts whose value is derived from stocks, bonds, commodities and currencies, or events such as changes in interest rates or the weather.

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