Morgan Stanley German sales guy appears at French bank

efinancialcareers.com:

Sometimes you stick around for five years waiting for a promotion. Sometimes you say screw it and join the French competitor on the other side of town. So it seems to go if you’re Heinz Wenzel, at least.

Wenzel was with Morgan Stanley for nearly 6 years, joining the bank in 2017. He left today as a VP, having spent the entire time with the fixed income/rates sales team, for Natixis, the French boutique. He’ll be an executive director at Natixis, which might give a clue as to why he departed. Wenzel was based in Frankfurt for Morgan Stanley and will be remaining in the city for Natixis.

With a three month notice period the industry standard, Wenzel left for Natixis before Morgan Stanley's redundancies were announced. The bank (Morgan Stanley) has been a bit of a revolving door lately, with big job cuts scheduled and ongoing (3,000 people). The bank has nonetheless been adding staff in recent months, including a top saleswoman from Goldman Sachs.

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