Star Morgan Stanley trader Shawn Joshi has left the bank for $2 billion credit hedge fund Compass Rose

<p><img src="https://static1.businessinsider.com/image/602da85a42b84000192f4180-1158/Screen Shot 2021-02-17 at 6.33.29 PM.png" border="0" alt="Shawn Joshi" data-mce-source="LinkedIn"></p><p></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><p>A star Morgan Stanley credit trader is leaving for the buy-side.&nbsp;</p><p>Shawn Joshi, the head of credit index trading at Morgan Stanley, has resigned from the bank, according to people familiar with the matter.</p><p>He's set to join Compass Rose Asset Management, the people said, a credit-focused hedge fund founded in 2017 that managed $1.9 billion in assets as of July 2020, according to regulatory filings.&nbsp;</p><p>A Morgan Stanley spokesman declined to comment. Representatives at Compass Rose did not immediately respond to requests for comment. Joshi declined to comment.&nbsp;</p><p>It wasn't immediately clear what role Joshi will have at Compass Rose or when he will start. He <a href="https://www.businessinsider.com/goldman-loses-credit-trader-to-morgan-stanley-2018-9">joined Morgan Stanley in fall of 2018</a> after rising to managing director at Goldman Sachs, where he traded derivatives, namely credit-default-swap indexes.&nbsp;</p><p>Morgan Stanley is coming off of a monster year in <a href="https://www.businessinsider.com/morgan-stanley-earnings-ig-credit-trading-revenue-results-q3-preview-2020-10">fixed-income trading</a>. The division had the largest percentage increase in revenue among peers in 2020, rising 59% to $8.8 billionits highest mark in a decade.&nbsp;</p><p>While the unit had strong performance across the board, sources told Insider that Joshi was consistently a top producer within the unit and that his team had another strong year in 2020.&nbsp;</p><p><strong>SEE ALSO:&nbsp;<a href="https://www.businessinsider.com/morgan-stanleys-james-gorman-jon-pruzan-interview-wealth-acquisition-pay-2021-1" >How a decade of repairing Morgan Stanley after the financial crisis made James Gorman the highest-paid CEO on Wall Street</a></strong></p><p><strong>SEE ALSO:&nbsp;<a href="https://www.businessinsider.com/morgan-stanley-earnings-ig-credit-trading-revenue-results-q3-preview-2020-10" >A Morgan Stanley credit desk has reaped nearly $1 billion thanks to a surge in corporate borrowing and bond-portfolio trading</a></strong></p><p><a href="https://www.businessinsider.com/morgan-stanley-index-trader-shawn-joshi-leaving-for-compass-rose-2021-2#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/worlds-most-expensive-liquid-thoroughbred-horse-semen-2020-3">Why thoroughbred horse semen is the world's most expensive liquid</a></p>
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