A hotshot trader just quit Goldman Sachs to join its arch rival (GS, MS)

Kerri Saperstein, who works in high-yield bond trading, has left the bank, according to people familiar with the matter. She is moving to take a similar role at Morgan Stanley, one of the people said.

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"We've been very pleased with the performance in that business," Morgan Stanley CFO Jonathan Pruzan said on a call. We're generating "significantly more revenues than before we had that restructuring," he said. "Our market share and momentum in that business has been good ... We feel confident that we will continue to be relevant to our clients."

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