Jay Dweck, Global Head of Strats and Tech left Morgan Stanley

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Jay Dweck, global head of strategies and technology at Morgan Stanley, left the investment bank on Wednesday, following a three and half years stint at the firm. After an anonymous member tipped us off yesterday, we contacted our sources who confirmed Mr. Dweck's departure on the condition of anonymity because the bank has not made an official announcement.

The bank sent out a memo to selective individuals on Wed following Dweck's departure, sources familiar with the situation told us. Request for comment has not been returned by Morgan Stanley's spokesperson at press time.

Jay Dweck, 55, joined Morgan Stanley on August 2007 as a Managing Director and Global Head to oversee and help build the Strategic Analytics, Modeling and Systems Group, which will focus on creating and developing models and systems designed to maximize effectiveness in sales and trading. Mr. Dweck also worked closely with the Information Technology Department. In his role, Mr. Dweck oversees quants who design and maintain computer systems and analytic models for sales and trading businesses.

"We are delighted that Jay has decided to join the Firm," said Zoe Cruz, then Co-President of Morgan Stanley. "He brings a wealth of knowledge and experience in analytical modeling and business solutions, which will help us grow our sales and trading businesses."

Zoe Cruz was fired a few months later in Nov 2007 by John Mack, then CEO of Morgan Stanley. In a feature article detailing the rise and fall of Zoe Cruz, NYMag quoted Mr. Dweck as saying “At Goldman, this isn’t happening. When they say get out, they get out. At Morgan Stanley, when Zoe says get out, people start negotiating.”

Mr. Dweck was previously at Goldman Sachs where he worked since 1994, most recently as Head of Equities Strategies. During his time at Goldman Sachs, he was a Participating Managing Director and held several senior positions, including Head of Core Strategies.
According to the firm's press release at the time of his hiring, Mr. Dweck earned B.S., M.S. and Ch Eng degrees in Chemical Engineering and a B.S. in Math from the Massachusetts Institute of Technology.

Jay and his wife, Shoshana Dweck are members of the Co-Chairs’ Council of The Perlman Music Program which offers musical training for students, ages 12 to 30, who play the violin, viola, cello, bass and piano.
 
Rather than him leaving out of his own accord, he was presumably "asked to leave". With the dirty internal politics at the firm where IT and traders ganged up to gun for his head, this did not come as a shock to anybody at Morgan Stanley.

Strategies at Morgan Stanley is dead. They tried to create a Goldman, alas, they did not even come close. Though the smartest people in strategies today at Morgan are still the ex Goldman guys.
 
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