When Rob Rooney stepped down as chief executive of Morgan Stanley’s international business in 2018, a note went out to staff saying he was relocating from London after more than two decades to take up a new senior role in the US.

“A memo came out that said I’d moved to New York, but my wife didn’t get that memo,” Rooney tells Financial News on a trip to the US to see family. “I became a very regular commuter.”