Barred Morgan Stanley Banker Joins Firm That Got His Trading Leaks
- SEC banned Pawan Passi from industry for one year in January
- CaaS Capital’s new status allows him to overcome industry ban
Pawan Passi
Photographer: Alex Kent/BloombergA 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.
Pawan Passi was hired by 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 biggest US funds dedicated to buying big chunks of stocks.