Morgan Stanley hired Daniel Driscoll from Nomura Holdings Inc. to trade investment-grade notes for the fourth-most active manager of the debt in the U.S.
Driscoll, who ran financial-debt trading at Credit Suisse Group AG in the U.S. before leaving last year, will join Morgan Stanley’s New York office as a managing director, according to Mark Lake, a spokesman for the firm. Driscoll didn’t respond to a message left on his mobile phone seeking comment.
Driscoll worked for Japan’s largest brokerage for about a year after a decade-long career at Credit Suisse, where he focused on both investment-grade and high-yield bank bonds.
Morgan Stanley, the sixth-biggest U.S. bank by assets, has managed 9.4 percent of investment-grade bond sales in the U.S. this year, up from 8.2 percent last year, according to data compiled by Bloomberg that excludes deals in which banks manage their own offerings. Companies have sold $1.07 trillion of the debentures in 2013, 3.9 percent more than what had been issued by this time in 2012, when a record $1.12 trillion of the debt was sold, Bloomberg data show.
Morgan Stanley ranks behind JPMorgan Chase & Co., Bank of America Corp. and Citigroup Inc. in bond deals managed.