Morgan Stanley is shaking up its huge trading business
Morgan Stanley has announced a raft of changes to its sales and trading business.
Sam Kellie-Smith will become global head of fixed income and commodities, according to a memo seen by Business Insider. He was previously global head of equity trading, and his appointment follows that of global equities boss Ted Pick to run markets more broadly.
Matt Berke, who was previously chief operating officer for equities, will become global chief operating officer of sales and trading.
The fixed income business was previously headed by Robert Rooney and Michael Heaney. Rooney, who is based in London, will become CEO of Morgan Stanley International and head of Europe, the Middle East and Africa. Heaney is retiring.
Morgan Stanley just cut 25% of its fixed income workforce. The fixed income business had a pretty tough year.