In the latest move of its kind, two veteran Morgan Stanley analysts have left the bank in favor of working in hedge funds, Reuters reports.

William de Winton, who co-headed the European banks research division, and Colum McCoole, head of Morgan’s European convertibles research wing, followed the firm’s No. 1 stock strategist, Steve Galbraith, into what is becoming a lucrative and opportunistic sector. Last week, Galbraith quit Morgan Stanley for hedge fund Maverick Capital.

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