Morgan Stanley Loses Two ECM Bankers

Two managing directors who were central to Morgan Stanley’s LatAm ECM practice have departed, leaving a sizable gap at the shop which is trying to build up its presence in the region. Luiz Carvalho, head of LatAm ECM and Gregg Nabhan, responsible for ECM coverage of industrial companies in the Americas, left the firm for different reasons. Carvalho is understood to have left for personal reasons, while Nabhan is heard to have been given a senior role at Banc of America Securities’ ECM division. A Morgan Stanley spokeswoman declined to comment on the departures. People close to the firm, however, note Morgan Stanley may be close to announcing a new hire in Sao Paulo that will be responsible for LatAm ECM. The shop has apparently been looking to hire a new executive since Carvalho’s departure last month.