Morgan Stanley (MS) To Step-Up Hiring In Sales and Trading
According to reports from the Wall Street Journal, Morgan Stanley (NYSE: MS) is looking to hire 400 traders and sales persons in an effort to revive profits from fixed-income trading, emerging markets and foreign exchange.
Morgan Stanley co-President, Walid Chammah, said in a meeting last month that the hiring plan is a "strategy of re-balancing and repositioning" fixed-income and equities trading.
Morgan Stanley got too cautious following its near-death experience last year, leaving rival firms like Goldman Sachs (NYSE: GS) and JP Morgan (NYSE: JPM) to reap the profits in the sectors.
Link to WSJ Article
The hiring is a good sign that "greed" is starting to make a comeback on Wall Street as "fear" subsides.
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