Morgan Stanley Is Making Cuts Within its London Equities Business

(Bloomberg) -- Morgan Stanley is making cuts at its London equities business, according to people with knowledge of the matter.

At least five people have been affected in equity trading and sales trading in London, including Simon Mardel, Matthew Bubba, Tom Cooper, Robert Bloomer and Neil Taub, said the people, who asked not to be identified because the matter is confidential.

Morgan Stanley’s first quarter fixed-income, currency and commodity sales and trading revenue beat estimates, while equities trailed, echoing results from peers Goldman Sachs Group Inc., Bank of America Corp. and Citigroup Inc. The bank is this year’s top lead underwriter of technology initial public offerings, and was involved in bringing Uber Technologies Inc. to market.

An official at the bank declined to comment.

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