Morgan Stanley (MS:US) appointed Salvatore Orlacchio as head of European fixed-income sales to replace Darragh McCarthy, who left after 18 years with the New York- based bank.
Orlacchio, who became head of European rate sales last year, will report to London-based Robert Rooney, who is head of fixed income for Europe, the Middle East and Africa, and global head of fixed-income client coverage, according to Sebastian Howell, a Morgan Stanley spokesman in London.
McCarthy was relocated to London last year from New York, where he held positions including U.S. head of fixed-income sales.
Morgan Stanley’s fixed-income underwriting business generated $1.36 billion in revenue (MS:US) last year, 32 percent of the company’s investment-banking total.
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