Morgan Stanley snaps up managing director from Credit Suisse

Hiring of Gillian Sheldon marks latest high-profile departure from embattled Swiss bank

Sheldon is the latest high-profile Credit Suisse veteran to depart the firm following the forced merger with UBS announced in March. Picture: Getty

Morgan Stanley hired Gillian Sheldon in a leading role for its British investment bank in the latest high-profile departure from the embattled Credit Suisse since its emergency takeover by UBS Group AG.

Sheldon will join as managing director and vice-chair of the UK investment banking division in the fourth quarter, according to people familiar with the matter.

It comes as Francesca McDonagh, the former chief executive of Bank of Ireland who took over the role of chief operating officer at the Swiss bank last year, has been tipped as a potential candidate to succeed Alison Rose as head of NatWest, sparking debate about her future at Credit Suisse.