Morgan Stanley's head of European high yield trading disappeared from the desk
Where is Jon Stead, the head of high yield trading at Morgan Stanley? Not, it seems, at Morgan Stanley any more.
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Stead didn't respond to a request to comment. Morgan Stanley declined to comment. But multiple sources say Stead is no longer there. He is thought to be joining a hedge fund. Maybe Point72, but we have not confirmed this.
This is the second time Stead has left Morgan Stanley. He worked for the bank in London for nearly eight years after leaving the London School of Economics. He joined Citi for a brief four months and then returned to Morgan Stanley where he's been since 2021 and has been head of high yield trading since 2023.
By our reckoning Stead might be aged 35.
He is not the first Morgan Stanley credit trader to leave the business in London. There were various departures in late 2024 and 2025 amidst complaints of favouritism. One trader who left joined hedge fund Verition but left again after less than a year.
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