The castle securities hired Morgan's top executive Luger to oversee high-touch stock trading business.

Castle Securities has hired Morgan Stanley's Elan Luger to lead its bulk stock trading business for institutional clients. Sources familiar with the matter said that Luger, who previously served as global head of high-touch equity trading at Morgan Stanley, will be in charge of Castle Securities' high-touch stock business. Luger will report to Jim Esposito starting in September. In a statement confirming the appointment, Esposito said, "As we continue to expand and deepen our institutional client business, we are pleased to welcome Elan to Castle Securities."