Morgan Stanley is shaking up its struggling fixed-income division, replacing the two co-heads of the division with the head of its stock-trading desk, according to memos sent to employees and reviewed by The Wall Street Journal. The Wall Street firm named Sam Kellie-Smith, head of equity trading, as head of Fixed Income and Commodities. Robert...
As part of hedge Stanley 's ongoing shake - up of its management , it has hired a new manager for its fixed income trading unit , Sam Kellie - Smith , as it seeks to turn around the struggling business . The move comes as Morgan Stanley reshapes its bond trading unit ; last week it said it was cutting 25 % of its fixed income jobs as regulatory regulation has made trading operations less profitable .