Morgan Stanley Loses Distressed Trading Head After a Year on Job

Matt Weinstein, who joined Morgan Stanley just as the pandemic-induced tumult was rocking markets, is leaving after a year on the job.

Weinstein will give up his role as head of North American distressed-debt trading to join hedge fund Hudson Bay Capital, according to people with knowledge of the matter. The 41-year-old rose to prominence at Deutsche Bank AG, where he spent over a decade and was seen as a prized hire for Morgan Stanley, which isn’t known for its prowess in distressed trading.

The market turmoil spurred by Covid-19 proved to be a windfall for Wall ...