Morgan Stanley quants whiz Dweck departs

Morgan Stanley quants whiz Dweck departs

Jay Dweck, global head of strategies and technology at Morgan Stanley, has left the US investment bank after more than three years in the role.

News of Dweck's departure was first reported on the Quant Network blog by an anonymous tipster and has since been confirmed in an internal memo seen by Bloomberg News.

Christine Murphy and Michael Sternberg will become co-heads of the global sales and trading strategies group, according to the memo.

Dweck was hired in February 2007 after a 13-year stint at Goldman Sachs with a brief to oversee and help build the quants group at Morgan Stanley, working closely with the information technology department.

His departure comes as Morgan Stanley chief James Gorman looks to shake up the firm's fixed income business following a disappointing fourth quarter, in which the unit seriously underperformed in comparison to its rivals.

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