As part of Morgan Stanley's ongoing shake-up of its management, it has hired a new head for its fixed income trading unit, Robert, 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.
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.