FXall loses to Morgan Stanley

LONDON - FXall has lost a key member of its management team to Morgan Stanley in London.

Neil Penny, global head of product strategy and one of the drivers at FXall, left on Friday (October 16) to take up a post at the US bank's foreign exchange prime brokerage team.

At FXall, he is being replaced locally by his deputy, Jim Foster, who is taking over and now has a direct reporting line to Phil Weisberg, chief executive at FXall based in New York.

The source said the news went public on Friday

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