- Kellie-Smith reshuffles deputies after promotion in January
- Horder appointed to lead division's operations in Europe
Morgan Stanley, the Wall Street firm retrenching in bond trading to improve returns amid an industrywide slump, named Steve Zamsky chief operating officer of its fixed-income and commodities business.
Zamsky, who was global head of credit trading, replaces Steve D’Antonio, who retired after almost three decades at New York-based Morgan Stanley.
Sam Kellie-Smith, who helped the bank become Wall Street’s top equities-trading shop by revenue, was promoted last month to revamp fixed income, becoming the sixth manager in seven years to take on that challenge. The firm took steps to shrink the business in the fourth quarter, cutting 1,200 employees, including about 25 percent of the fixed-income trading staff.
On Wednesday, Kellie-Smith reshuffled his deputies. Jakob Horder, formerly global co-head of rates along with Mitch Nadel, will head European fixed income and commodities, according to a memo to staff. Nadel will run macro trading in the Americas, and Jay Hallik, who led the securitized products group, will run the global credit complex, adding credit and municipal bonds. Senad Prusac will become global head of macro trading, a new role.
Mark Lake, a Morgan Stanley spokesman, confirmed the memo’s contents.