Two key trading execs exit Morgan Stanley

Both Alvise Munari, global head of equity derivatives, and Pierre Mendelsohn, head of the Asia derivates group, left BAML in 2010 at nearly the same time to join Morgan Stanley (MS +0.7%).

Morgan Stanley has the hot hand in equity sales and trading, posting $1.7B in revenue in Q1, up $100M from last year at a time when the rest of the banking world is struggling in the trading business. The bank also won the Equity Derivatives House of the Year honor from International Financing Review in 2013. "We've had a phenomenal year in the U.S. across all of the client segments and all products," Munari told IFR.

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