Three years ago, Morgan Stanley embedded a spy within Bridgewater Associates to learn its mysterious ways. Specifically, the mysterious and lucrative ways and means of its army of Principled robots. And with Ray Dalio and co. temporarily distracted by other matters, the bank decided it was the perfect time to safely extract him from Westport and get him to work putting other people at Morgan Stanley out of work. And maybe teach them to videotape all meetings and how best to deal with sexual misconduct allegations.
Morgan Stanley has rehired a former electronic trading specialist as investment banks arm themselves for a future in which robots take on more and more tasks performed by humans on trading floors.
Court Crane has returned to Morgan Stanley as an executive director, according to a spokesman. Crane may relocate to London, where Morgan Stanley operates as one of the leading brokers to fund managers in Europe.
Crane previously spent more than a decade at the US bank, holding roles including head of US algorithmic trading, before leaving to join Ray Dalio's Bridgewater Associates in 2015.