Morgan Stanley names Dunleavy as new head of fixed-income sales: memo

By Olivia Oran

(Reuters) - Morgan Stanley has named a new head of global fixed income sales as it continues to reshape the struggling business.

Kevin Dunleavy, who has worked with the bank’s largest clients across fixed income and equities as the global head of senior relationship management for the last five years, is taking on the role, according to an internal memo on Monday.

Dunleavy, who joined the Wall Street firm in 2009 from Bank of America where he was head of hedge fund relationships, will be replaced by Jeff Pagano, who previously ran U.S. fixed income sales.

A Morgan Stanley spokesman confirmed the contents of the memo.

The moves come as the bank looks to overhaul its struggling fixed income division by replacing top executives and moving around senior leaders from other businesses.

Earlier this month, Morgan Stanley named equities executive Sam Kellie-Smith as its new head of fixed income trading, replacing Robert Rooney and Michael Heaney.

The bank said it is cutting 25 percent of its fixed income jobs as increased regulation has made trading bonds less profitable.

(Reporting by Olivia Oran in New York; Editing by Jonathan Oatis)

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