Marty Byman, the long-time head of Morgan Stanleys European prime brokerage business, has left the firm, a source with direct knowledge of his departure confirmed to Global Custodian.
Contrary to some reports, Byman was not fired, according to the source. Warren Holmes, who was co-head of the prime brokerage unit along with Byman, will take on the role by himself, the source said. The source added that Holmes will now report directly to Alex Ehrlich, who is Morgan Stanleys global head of prime brokerage, and David Cantillon, head of European equity sales.
It is not yet clear why Byman left the firm. A Morgan Stanley spokesperson declined to comment.