Morgan Stanley Raid Highlights German Prosecutor’s Cum-Ex Quest

One of the most feared woman in finance isn’t a regulator, a short-seller or a hedge fund titan. You won’t find her office in the City of London, Washington or on Wall Street.

But her name resonates in offices from Bank of America Corp. to Deutsche Bank AG and Morgan Stanley and scores of their global peers: Anne Brorhilker, the German prosecutor exacting justice for the multibillion-dollar Cum-Ex tax scam that’s been called the biggest tax heist in history.

Brorhilker, 48, has won four convictions against bankers in the past two years in a prosecution that’s roiling global finance. ...