Morgan Stanley (MS)’s top trading executives for Latin America, Marcio Rochwerger and Igor Mansour, left the company last month after being bought out, two people familiar with the matter said.
Rochwerger ran equity trading and was president of the New York-based company’s brokerage unit in Brazil, according to the people, who declined to be identified because the departures haven’t been announced. Mansour was responsible for fixed-income and foreign-exchange trading in the region, the people said. They were both based in Sao Paulo.
Daniel Goldberg left his position in July as president of Morgan Stanley’s Brazil business to start investment firm FKG Capital Gestao de Recursos Ltda. in a partnership with Farallon Capital Management LLC. Morgan Stanley (JEF) has 205 employees in Brazil and 35 in Mexico, excluding secretaries, Christopher Harland, the head of the bank in Latin America, said Feb. 23.
Under the buyout agreement, Rochwerger and Mansour can’t accept any work offer until April, the people said. Morgan Stanley’s trading businesses lost money on 64 days last year, compared with 38 days in 2010, according to a regulatory filing on Feb. 27.
Mary Claire Delaney, a spokeswoman for the New York-based bank, declined to comment on the departures.
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