Morgan Stanley Appoints Ellen Zentner as Chief U.S. Economist

Morgan Stanley named Ellen Zentner as its chief U.S. economist, replacing Vincent Reinhart, who left the bank last month.

Zentner is a managing director who has served as senior U.S. economist since joining Morgan Stanley in August 2013, according to an internal memo obtained Friday by Bloomberg News. Akhilesh Raina, a spokesman for the New York-based bank, confirmed the memo’s contents.

Last month, Zentner and her colleagues predicted the Federal Reserve would wait until March 2016 to raise interest rates, citing falling oil and a rising dollar that will weaken inflation. That clashed with many on Wall Street who said they expect a rate increase this year, including Morgan Stanley Chief Executive Officer James Gorman.

Zentner was a senior economist at Nomura Holdings Inc. and Bank of Tokyo-Mitsubishi UFJ Ltd. before joining Morgan Stanley. Reinhart, a former head of the Federal Reserve Board’s monetary-affairs division, left Morgan Stanley in January after three years at the firm.