Barclays thought that they had their man and announced that Morgan had been hired to be a managing director in bond solution sales in Tokyo.
But Barclays acted too quickly as the move was not in the bag. Dresdner did not want to lose him and he has agreed to stay as the investment bank's head of Asia fixed income sales. Morgan is expected to be a winner, however, when Dresdner announces its long-expected move to merge its debt and equities businesses.
Red Faces At Barclays
Just last week Barclays Capital sent out a press release trumpeting the hiring of Paul Morgan from Dresdner Kleinwort Wasserstein. They now have red faces as Morgan has decided to stay put.
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