Morgan Stanley shuffles key executives to trading, investment management roles

By Olivia Oran

(Reuters) - Morgan Stanley promoted two key executives to new roles within trading and investment management, according to an internal memo sent to employees on Thursday.

Ted Pick, who has run the firm's global equities division and is largely credited with helping turn the business into the top stock trading franchise on Wall Street, will now run global sales and trading. The new role includes fixed income, which has been a troubled spot for banks amid new regulations that have hit bond trading revenue.

Dan Simkowitz, who previously co-headed global capital markets, will run the bank's investment management division, which includes asset management, alternative investments and the merchant bank.

Simkowitz, who was one of the key bankers on the IPOs of both General Motors Co and Facebook Inc, will report directly to Morgan Stanley CEO James Gorman.

Pick and Simkowitz both joined Morgan Stanley in 1990.

Mo Assomull will become the sole head of global capital markets after Simkowitz moves roles, according to a separate memo.

The moves follow a broader shuffling of key wealth and securities executives at Morgan Stanley that took place earlier this year as part of an effort to get those two businesses to collaborate and to produce more revenue.

Since buying the Smith Barney business from Citigroup Inc, Morgan Stanley has been trying to cross-sell its products between wealth clients and its institutional business, which includes investment banking and trading.

The Wall Street Journal reported the changes earlier on Thursday.

(Reporting by Olivia Oran; Editing by Frances Kerry)

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