Bloomberg News

Morgan Stanley Appoints Hornbach Head of U.S. Rates Strategy

February 24, 2012

Feb. 23 (Bloomberg) -- Morgan Stanley, owner of the world’s largest brokerage, named Matthew Hornbach head of U.S. interest- rate strategy.

Hornbach will move to New York from Tokyo and report to Michael Eastwood, according to an internal memo obtained by Bloomberg News. Sandra Hernandez, a spokeswoman for the New York-based firm, confirmed the memo’s contents.

James Caron, the company’s former head of interest-rate strategy, left the firm earlier this year, and his responsibilities were assumed by Laurence Mutkin, who became global head of interest-rate strategy.

Hornbach has worked at Morgan Stanley for 11 years and was most recently head of non-yen trading in Tokyo, according to the memo.


To contact the reporters on this story: Elizabeth Stanton in New York at; Michael J. Moore in New York at

To contact the editor responsible for this story: David Scheer at

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