Commodities heads leave Morgan Stanley over electronic communications breach

19 October 2020 - 12:00 am UTC

Morgan Stanley’s global heads of commodities and commodities trading have left the bank after compliance breaches were discovered regarding the use of non-authorized electronic communication tools, including WhatsApp.

Nancy King, global head of commodities, is retiring from the firm, while Jay Rubenstein is leaving the firm, a source familiar with the development said.

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Commodities heads leave Morgan Stanley over electronic communications breach

Morgan Stanley’s global heads of commodities and commodities trading have left the bank after compliance breaches were discovered regarding the use of non-authorized electronic communication tools, including WhatsApp.