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But the loss of fee income on more than $5.5 billion in capital could prompt talented traders and investment professionals to leave for better-paying firms.
Richard Bove, an analyst with Rafferty Capital Markets, said that Morgan Stanley's decision to shrink the fixed-income business meant that not only was it losing talented traders, it was not attracting as many as it used to.
That they are now losing a second trader, Mr. Coffey, an emerging market expert from Australia who left $250 million in his pay on the table to start his own firm, has raised questions among London's hedge funds about their ability to retain talented traders.
There are some, very few, very talented traders.
First, it gives talented traders an ability to maximize their own skills and develop their personal brand.
Far from freezing them out, DB Advisors invested capital in them.The biggest problem with Deutsche's metamorphosis into a trading firm is that everybody else is doing the same, and the number of strategies and talented traders is limited.
Similar(52)
Urged by many to fire Glucksman, Peterson argued that Glucksman was a talented trader who had had only one bad year; instead, he named him to the management committee, and later promoted him to co-C.E.O.
He had presented himself as a talented trader who could double his investors' money in a few months, the City regulator said on Friday as it welcomed the guilty verdict at Southwark crown court.
Mr. Cohen attracts talented, ambitious traders because he offers to pay each team as if they run their own fund - without having to raise money and run a business.
So investors and creditors will watch carefully this week to see whether other energy companies continue trading with Enron, and whether the merger stems the outflow of talented Enron traders.
The indecently talented Hugh Laurie, as arms trader "Dickie" Roper, twists with a repugnant charm and all-seeing brain: all his backslaps measure shoulders for point of entry.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com