Morgan Stanley SPAC banker and global head of alternative capital, Bennett Schachter, is quitting to join Elliot Investment Management, according to a report by Bloomberg.

Morgan Stanley SPAC banker and global head of alternative capital, Bennett Schachter, is quitting to join Elliott Investment Management, according to a report by Bloomberg.

The report cites unnamed sources as revealing that Schachter will join the Paul Singer-led hedge fund, one of the world's largest activist investors later this year. Schater has been with Morgan Stanley since 2019 after spending more than 20 years at Goldman Sachs Group Inc. 

What exactly Schachters will be doing in his new role at Elliott isn't known although the firm has raised its own SPAC, or special acquisition company, Elliott Opportunity Corp II.