NatWest Lures Trio From Morgan Stanley
May 10, 2011
LONDON -- National Westminster Bank PLC raided a rival's equity derivatives department, hiring three managing directors from Morgan Stanley & Co. to beef up its own operations. In June, NatWest Markets recruited another derivatives specialist, Tommie Tejada, from Morgan Stanley & Co., a unit of Morgan Stanley Group, to head the global equities operation of NatWest Markets, its corporate and investment banking arm. The new team, which will be based in New York, will join with London-based Mr. Tejada in expanding NatWest Markets' business in the U.S. The three managing directors are Ralph Reynolds, Ricki Winslow and Sean Quincy, who will join the firm in September. Mr. Tejada said the team will help build a U.S. equity derivatives department to add to the company's already developed European equity derivatives program. Morgan Stanley said the departures wouldn't affect its business.
