Shock at Morgan Stanley as head of North American leveraged finance trading fired

Morgan Stanley traders are understood to be in a state of shock after the bank unexpectedly let go of its North American head of leveraged finance sales, trading and research.

Sources say the bank fired Nicholas Brice. He had worked for the bank since 2017 as a high yield trader. It's thought that he was promoted to run North American leveraged finance trading at some point in the past year. Brice's FINRA registration shows that he previously worked for Deutsche Bank, Credit Suisse and Wells Fargo. 

Morgan Stanley declined to comment. The reason for Brice's exit is not clear. Morgan Stanley is cutting jobs, but the two things are not thought to be related. 

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