Morgan Stanley Paris MD moves to PJT as boutiques staff-up

efinancialcareers.com:

It's not just bankers in London and New York who are taking the opportunity to move to boutiques. Paris-based bankers are doing it too. 

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Thomas Contenay, a managing director at Morgan Stanley in Paris, has moved to PJT Partners in Paris to join the strategic advisory practice. Contenay spent nearly 13 years at Morgan Stanley, and was made managing director in 2022. The bank was presumably hoping he'd stay a little longer.

Contenay's migration comes as Evercore is in the process of expanding in Paris. It hired Charles-Henri Filippi, Andrea Bozzi and Charles Andrez from Lazard in April, when Bloomberg said there were more hires to come. So far, though, there haven't been much sign of them.

It's not just Paris bankers who are joining boutiques. As we noted in today's Morning Coffee summary, JPMorgan financial institutions group banker Chetan Singh has gone to Robey Warshaw and PJT Partners has hired Eduard Van Wyck, Goldman's co-head of industrials, both in London. 

What makes boutiques so popular? It helps that they pay well. Average pay globally at PJT Partners was $800k last year. Banks are expanding in Paris too: Morgan Stanley said in May that it intends to add 100 jobs there. 

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