Second Brazilian Leaves Morgan Stanley After Investigation

Rodrigo Jolig, who helped manage the currency options division, was fired in November after the institution released allegations about his conduct.

Another Brazilian foreign exchange market operator leftSecond Brazilian Leaves Morgan Stanley After Investigation after an internal investigation into suspicions of improper marking in 2019.

Rodrigo Jolig, who helped manage the New York bank’s foreign exchange options division until he was suspended under an internal investigation two years ago, was fired in November after the institution disclosed allegations about his conduct, according to documents submitted to the Authority. US Financial Sector Regulator.

The allegations against Jolig were related to “processes for controlling the valuation and marking of positions that did not involve securities, in relation to profit and loss targets”, as well as “communication about affiliated business using an unapproved communication platform”, according to documents submitted to Finra.

Jolig and Melzer were stars on Wall Street until a series of complex transactions linked to the Turkish lira went awry in 2019, causing millions of dollars in losses and prompting the bank to investigate whether traders were improperly valuing the transactions, as revealed by Bloomberg at the time. The status of this analysis and its conclusions are unclear.

Mark Lake, a spokeswoman for Morgan Stanley in New York, declined to comment, as did Roberta Scrivano, a spokeswoman for Jolig.

Jolig and Melzer have already opened hedge funds in Brazil, Bloomberg reported in September. Jolig is a partner at Alphatree Capital, which has capital from the Elie Horn family. Melzer opened the Upon Global Capital fund, where he serves as investment director.

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Rodrigo Jolig, who helped manage the currency options division, was fired in November after the institution released allegations about his conduct.

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