(Reuters) – Two of the most senior commodities executives at Morgan Stanley MS.N are leaving the bank after compliance breaches related to use of communication tools, Bloomberg News reported bit.ly/3j9i8UI on Tuesday, citing two people familiar with the matter.
Nancy King, global head of commodities, and Jay Rubenstein, head of commodities trading, are leaving, the report said. The departures were first reported by energy news service SparkSpread.
Morgan Stanley did not immediately respond to a Reuters request for comment.
The bank did not find any wrongdoing, but the use of those communication channels went against policy, according to the Bloomberg report.
King joined Morgan Stanley as an oil trader in 1986 and was named the sole global head of commodities in June 2016.
Rubenstein joined in 2007 as a power trader and was named global head of commodities trading in June last year, according to his LinkedIn profile.
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