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 .
As part of Morgan Stanley's ongoing shake-up of its management, it has hired a new head 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 year it said it was cutting 25% of its fixed income jobs as increased regulation has made trading bonds less profitable.