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A Morgan Stanley Trader's Gone and Wall Street Rivals Take Note

  • Debt trader leaves for Jefferies after hedge fund concerns
  • Other traders abuzz over heightened sensitivity on Wall Street
The Morgan Stanley digital sign is seen at the company's Times Square headquarters in the Manhattan borough of New York.

The Morgan Stanley digital sign is seen at the company's Times Square headquarters in the Manhattan borough of New York.

Photographer: John Taggart/Bloomberg

It was a mere foot fault, many Wall Streeters say, a bit of fibbing perhaps between a debt trader and his client. No big deal, they say.

But the young trader, Patrick Brennan, is no longer working for Morgan Stanley after his supervisors received a complaint in recent weeks from a hedge-fund client that he had misled them. While no one is suggesting that Brennan broke any law, the issue raised by Hutchin Hill Capital triggered a review that led to his exit in July, according to people with knowledge of the matter.