Morgan Stanley hired a Deutsche Bank analyst for its sales team
Morgan Stanley might be cutting 3,000 jobs, but that’s not stopping it picking up some good deals in a competitive jobs market.
Its latest addition is Abhinandan Agarwal. Agarwal was at Deutsche Bank for two and a half years as a metal as a metals and mining analyst, focusing on copper and copper equities. Interestingly, he joined Morgan Stanley as a salesperson in materials, and even took a promotion in the process – from director at Deutsche to executive director at Morgan Stanley. Agarwal was, and will be, based in London.
Morgan Stanley’s sales division has been a hotspot of movement recently. We’ve spotted salespeople leaving for Natixis, as well as salespeople joining from Goldman Sachs. The equities sales team has been pretty active too, including the hedge fund sales team.
Or 2023 compensation report might give a clue as to why Agarwal is moving out of research and into sales. We’ve found that sales and trading people are paid nearly 46% more than equity researchers in general, and 56% more when factoring in the fact that they work less hours.
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