Barred Morgan Stanley Banker Joins Firm That Got Trade Leaks (1)

A former Morgan Stanley banker who was punished in the block-trading probe that rattled Wall Street joined one of the firms that was the recipient of confidential information he leaked.

<-bsp-person state="{"_id":"0000018e-e6e3-d583-afbf-e6ffb5110000","_type":"00000160-6f41-dae1-adf0-6ff519590003"}">Pawan Passi was hired by <-bsp-person state="{"_id":"0000018e-e6e3-d583-afbf-e6ffb5110001","_type":"00000160-6f41-dae1-adf0-6ff519590003"}">Frank Fu’s CaaS Capital Management, according to people familiar with the matter. CaaS made its name partnering with banks as they sought buyers for block trades, becoming one of the <-bsp-bb-link state="{"bbDocId":"R8XWW6DWRGG2","_id":"0000018e-e6e3-d583-afbf-e6ffb5110002","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">biggest US funds dedicated to buying big chunks of stocks.

A yearslong investigation into block trading that reverberated across the industry culminated in January after Morgan Stanley <-bsp-bb-link state="{"bbDocId":"S75QA4DWX2PS","_id":"0000018e-e6e3-d583-afbf-e6ffb5120000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">agreed to pay $249 million to the ...