Morgan Stanley's Singapore macro desk lost up to 40 people. Now it has new bosses
As we reported here not long ago, Morgan Stanley's macro team has lost at least 40 people, many of them in Singapore. Now it's had a shakeup.
Bloomberg reports that Morgan Stanley has reshuffled the leadership of its macro desk. Rahul Gautam, who - we understand and as per his LinkedIn profile - was previously head of fixed income and equities trading in South East Asia, will now simply be head of Morgan Stanley's international commodities trading business and co-head of South East Asian equities.
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This looks like a narrower role for Gautam. It's not clear whether he welcomes it. Bloomberg says the bulk of Morgan Stanley's fixed income trading activities in Asia - comprising FX and emerging markets rates trading - have now been transplanted to Sherry Xu and Roland Jeurissen. Xu and Jeurissen are two existing Morgan Stanley traders and they are now effectively handling most of Morgan Stanley's fixed income business in the region.
The changes are thought to have been overseen by Samer Oweida, Morgan Stanley's New York based head of FX and emerging markets, to whom Bloomberg says Xu and Jeurissen will now report.
They will also report to Niall Almeida, Morgan Stanley's Asia head of fixed income, currencies and commodities (FICC), who also covers the smaller credit business.
Gautam, meanwhile, will return to focus on his earlier domain of equities trading, with commodities appended to it.
There are many opportunities in Asian markets this year and hedge funds are hiring. Many of Morgan Stanley's circa 40 leavers have since arrived elsewhere. Bloomberg notes that Sahil Aggarwal, Morgan Stanley's former Asia head of linear rates trading, who left in June, has, for example, now joined hedge fund Verition. Aggarwal was only promoted to managing director at Morgan Stanley in January.
Morgan Stanley didn't respond to a request to comment.
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