Morgan Stanley Bond-Trading Executive D'Antonio to Retireby and
D'Antonio held many fixed-income roles during 30 years at firm
He now plans to focus on urban education, youth health care
Morgan Stanley’s Steve D’Antonio, chief operating officer of its fixed-income division, is retiring after almost 30 years at the firm.
D’Antonio, 56, plans to focus on urban education and children’s health care, fixed-income co-heads Michael Heaney and Robert Rooney said Friday in a staff memo obtained by Bloomberg.
Morgan Stanley is reducing the size of its fixed-income business following a years-long decline in revenue. The New York-based firm cut 1,200 workers in the business and is taking a $150 million severance charge in the fourth-quarter. The company hasn’t named a successor for D’Antonio and the role will probably be filled internally or combined with another job, a person briefed on the matter said, asking not to be identified discussing personnel.
D’Antonio held numerous roles in both fixed-income trading and sales, including taking over as head of the global securitized-products trading group in 2006. He helped found the fixed-income unit’s analyst program, as well as a mentoring program for inner-city high school students, according to the memo.