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Duo departs Morgan Stanley to lead rival power team

Two prominent members of Morgan Stanley's global power and utility group left to head up the power team at a rival bank.

New York-based managing directors Scott Beicke and Christopher Yonan joined Jefferies Financial Group Inc. subsidiary Jefferies Group LLC as managing directors and co-heads of power, utilities and infrastructure for the Americas in mid-September.

Both Beicke and Yonan departed Morgan Stanley & Co. LLC on Sept. 13, according to their registrations with the Financial Industry Regulatory Authority.

Beicke spent 12 years at the bulge-bracket firm in two stints, from 2004 to 2008 and 2010 to 2018, according to FINRA, which lists him as being employed by Banc of America Securities LLC, Bank of America Corp.'s then-investment banking arm and the forerunner of Bank of America Merrill Lynch, from July 2008 to May 2009.

Yonan joined Morgan Stanley from Barclays PLC in 2014.

Initially an associate with Milbank Tweed Hadley & McCloy, Yonan left the law firm to join Lehman Brothers Holdings Inc. as a vice president in 2007, staying on after Barclays acquired the beleaguered institution's investment banking apparatus in 2008.

Beicke and Yonan replace Kevin Phillips and Hari Chandra, who left Jefferies for Cantor Fitzgerald & Co. in April to jointly lead the firm's new global power, energy and infrastructure team in New York.

Chandra and Phillips, both of whom joined Jefferies from Bank of America Merrill Lynch in 2014, were not the only members of their team to migrate to Cantor. Managing directors John Bills in New York, Carlos Candil in London and Michiel Prompers in Hong Kong also made the switch, according to their LinkedIn profiles, along with several other junior bankers in New York and London.

Spokespeople for Jefferies and Morgan Stanley in New York declined to comment.