Brian Magnus, a 12 year veteran of Morgan Stanley and the London-based head of its European private equity team, has left the bank unexpectedly.
Erroneous media reports had indicated that he was joined by another senior member of the bank's private equity team, Graham Keniston-Cooper. Keniston-Cooper, who describes himself as an 'independent financials services professional' on his LinkedIn profile, in fact left the bank in 2010, and the two departures are entirely unrelated, the source said.
Magnus, a managing director, joined Morgan Stanley in 2000. He could not be reached for comment.
Before becoming head of the European private equity group in 2007, he was head of UK investment banking from 2005. Prior to Morgan Stanley, he worked in the corporate finance division of Schroders, having qualified as a chartered accountant with PricewaterhouseCoopers.
No explanation has been given for Magnus' departure, but he joins a number of recent senior investment bankers who have left the industry over the past year, many of whom went on to join private equity firms.
Former Goldman Sachs banker Stephen Hickey, for example, recently joined CVC Capital Partners. The trend has been particularly pronounced in Asia, with high profile moves including Alan Chen, who left Goldman Sachs to lead Permira's operation in China, and Paul Su, who left Credit Suisse to join 3i's Asian team.