Morgan Stanley International chair among missing after yacht disaster

Morgan Stanley International chairman Jonathan Bloomer is among those confirmed missing by Italian authorities along with British tech entrepreneur Mike Lynch after the luxury yacht they were on board sank off the coast of Sicily early Monday.

The head of the civil protection agency in Sicily, Salvo Cocina, said in a message to Bloomberg that the six passengers still missing are Bloomer and his wife Judy, Clifford Chance partner Chris Morvillo and his wife Nada, as well as Lynch and his daughter Hannah.

Of the 12 guests and 10 crew who were on the yacht named Bayesian, at least one person has died after a tornado hit the vessel near Porticello. Lynch and his family were aboard with a small group of his financial and legal advisers celebrating the tycoon’s recent acquittal from fraud charges when the violent storm hit. 

Bloomer, 70, has worked in the finance industry for five decades. He’s been chairman of Morgan Stanley’s European business since 2018, and was named to lead British insurer Hiscox Ltd.’s board last year. He is a friend of Lynch and was a witness for the defense in the long-running legal battle with Hewlett Packard.

Lawyer Morvillo served as co-counsel for Lynch, successfully defending him from criminal charges that he duped HP into overpaying for his software firm, Autonomy Corp.

Morgan Stanley and Hiscox said in separate statements that they were “shocked and saddened” by the news and awaiting further developments. Clifford Chance declined to comment. 

From 1995 to 2005, Bloomer held senior roles at Prudential Plc — first as the firm’s finance chief and later its chief executive officer. He left after clashing with shareholders over a decision to raise money through a rights offer to help fund expansion in the UK instead of Asia.

As of Monday, Italy’s coast guard was leading search and rescue operations and had recovered 15 people, according to Camper & Nicholsons, the managers of the 56-meter (184-foot) yacht.