Morgan Stanley's most senior European banker has followed in the footsteps of former co-president Zoe Cruz, exiting the firm in the wake of its sub-prime mortgage losses. He is the 13th senior executive to leave the bank in two-and-a-half years.
Jonathan Chenevix-Trench, a Briton who joined the US bank in 1984, has resigned a week after his close ally Cruz was ousted. Chenevix-Trench and Cruz had 48 years of service to Morgan Stanley between them.
