Morgan Stanley not hiring JPMorgan banker on big guarantee

What happened? Neither JPMorgan nor Morgan Stanley are commenting, but it's understood that Thomas Christl - who left JPMorgan earlier this year and who was due to join Morgan Stanley as head of consumer and retail investment banking for Europe, isn't joining after all.

Christl, who was contacted for comment, didn't respond. It's possible that Morgan Stanley has withdrawn its offer.

Christl was seen as a big win for Morgan Stanley. Sources say the US bank had been delighted to hire him and that Christl had been offered a large guaranteed bonus to join, which had been signed off at a very senior level.

Christl, who is in his mid-30s, had spent his entire 17-year career at JPMorgan. The FCA register says he left the bank in late April 2023. He was made an MD at the bank in 2019.

Morgan Stanley is in the process of making 3,000 job cuts. However, like other banks it's still hiring managing directors and has just recruited Gillian Sheldon from Credit Suisse. 

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