One of the co-heads of Morgan Stanley’s European electronic trading arm has left, following a number of cuts within its London equities business earlier this year.

Rupert Fennelly has left the bank, according to people familiar with the matter. He had been co-head of Morgan Stanley Electronic Trading (MSET) alongside Kevin Twitchen since 2014. MSET spans cash equities, options and futures, and offers services including algorithmic trading.