Aug. 21 (Bloomberg) -- Macquarie Group Ltd., Australia’s largest investment bank, hired Morgan Stanley’s Michael Gray to run international sales trading as part of an expansion of its U.S. equities business.
Gray, who will be a New York-based managing director, was previously a managing director overseeing international equity sales trading at Morgan Stanley, Sydney-based Macquarie said today in a statement. The firm also hired Ali Mossadeghi as a managing director in institutional equity sales, based in San Francisco. Mossadeghi has previously worked at Susquehanna International Group LLP and Barclays Plc, according to the statement.
Macquarie posted its first profit growth in three years after boosting fund management fees and cutting costs, according to a statement in May. Macquarie Securities, the bank’s equity-trading business, reported a net loss of A$50 million ($45.2 million) for the year ended March 31, which narrowed from A$194 million the previous year.
“The addition of these talented professionals enhances our existing expertise and client relationships, and further broadens the capability of our global execution platform,” Ken Savio, U.S. head of Macquarie Securities, said today in the statement.
Macquarie also hired Liz Hunter as a New York-based senior vice president in cash trading. She was previously a director in cash equities at Bank of America Corp.’s Merrill Lynch unit. Jason Rubin is joining Macquarie as a senior vice president in institutional sales in New York. He was previously a director at Dahlman Rose & Co., according to the statement.
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