Loan trading heavyweight leaves Morgan Stanley

Robert Lepone, one of the best-known figures in the European loan market, has resigned from Morgan Stanley, having been a key driver in the development of a new market in the insurance of corporate loans.

Lepone was most recently head of European distressed and high-yield credit trading at the bank, but has been involved in loan and high yield trading since joining in 2002 as head of par loan trading.

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