The ethical man knows right from wrong (his head), while the moral man does right over wrong (his head & heart).
So you can be ethical and not have any morals? You know better, but dont apply it.
Ethics are based on a code of conduct.
Morals are based on various codes of ideology.
An ethical man is ethical in how he conducts his life and his business affairs.
A moral man knows right from wrong and choose right.
An ethical person considers the context (motive, consequences, urgency) of his actions. A moral person acts in accordance with principles which he may never have examined. Both attempt to live rightly. I think of the first as wise and the second as good. I like best the person with an ethical morality.