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Morgan Stanley Promotes David Flowerdew in Macro Unit

  • Nadel’s exit is said to be unrelated to probe into FX trades
  • Flowerdew previously oversaw U.S. Treasury, swap trading
Morgan Stanley Headquarters Ahead Of Earnings Figures
Photographer: Bess Adler/Bloomberg

Morgan Stanley has replaced a top executive at one of its fixed-income trading units.

Mitchell Nadel, head of so-called macro trading for North America, is leaving the New York-based firm, according to an internal memo obtained by Bloomberg. He will be replaced by David Flowerdew, currently the head of U.S. rates, according to people familiar with the matter.