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Morgan Stanley Names Flowerdew Top Treasury Trader Amid Cuts

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Morgan Stanley Cuts About 25% of Fixed-Income Workforce

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Morgan Stanley, which plans to cut as much as a quarter of its fixed-income staff globally, has named David Flowerdew to replace Jaideep Bedi as head of U.S. Treasuries trading.

Flowerdew will add the title to his current position as head of U.S. swaps, said Mark Lake, a spokesman for the New York-based bank, one of 22 primary dealers that trade Treasuries with the Federal Reserve.