| NEW YORK, June 10
NEW YORK, June 10 Morgan Stanley's head of crude
oil trading in New York, Tom O'Connor, resigned last week, a
person familiar with the matter said.
O'Connor was a managing director who ran the New York crude
oil trading desk. He joined Morgan Stanley in 2000 as an
associate, trading commodities.
His departure follows that of Simon Fenner, formerly head of
strategic transactions at Morgan Stanley's U.S. commodities
business, who left to helm energy trading in the Americas at the
trading arm of Russian oil giant Lukoil.
O'Connor's resignation was first reported by SparkSpread, a
financial industry trade publication.
The two departures come amidst Morgan Stanley's retreat from
the physical oil trading business.
The bank announced on Monday it is selling its controlling
stake in oil storage and transport company TransMontaigne Inc
to NGL Energy Partners LP for $200 million,
essentially ending its long run as the biggest physical oil
trader on Wall Street.
In December, the bank announced its intent to sell most of
its global physical oil trading operations to Russian state-run
oil major Rosneft, including its 49 percent stake in
shipping company Heidmar.
(Reporting by Anna Louie Sussman; editing by Jessica
Resnick-Ault and Gunna Dickson)