(Bloomberg) -- Bennett Schachter, the top SPAC banker at Morgan Stanley and its global head of alternative capital, is leaving for a role at Elliott Investment Management, according to people with knowledge of the matter. 

Schachter, who joined the New York-based bank in 2019 after more than two decades at Goldman Sachs Group Inc., is set to join the Paul Singer-led hedge fund later this year, said the people, asking not to be identified as the move isn’t yet public. 

Representatives for Morgan Stanley and Elliott declined to comment. Schachter didn’t immediately respond to a request for comment.

Amid ongoing scrutiny of special purpose acquisition companies by the US Securities and Exchanges Commission, certain Wall Street firms have retreated from the business, including by waiving fees. 

It’s unclear what Schachter will do at Elliott, which has raised a SPAC of its own, Elliott Opportunity II Corp.

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