Morgan Stanley (MS:US), owner of the world’s biggest brokerage, promoted Vishwanath Tirupattur to a newly created post leading U.S. fixed-income research.
Tirupattur, 52, will continue in his role as global head of securitized products strategy, Neil McLeish, global head of fixed-income research, wrote in an internal memo obtained by Bloomberg News. Lauren Bellmare, a spokeswoman for the New York-based company, confirmed the memo’s contents.
Research that’s seen as superior can lure clients to trade with a firm, a potential boost to Morgan Stanley’s plan to focus on high-volume flow trading that uses less capital. The bank generated $2.67 billion in fixed-income trading revenue in the first six months of the year, about half that of competitors such as Goldman Sachs Group Inc. and Bank of America Corp.
Tirupattur joined Morgan Stanley in 2004, after working at insurer Chubb Corp., according to Financial Industry Regulatory Authority records. He wrote in a note last week that a recent slump in the U.S. high-yield market may lead to lower prices for mezzanine tranches of collateralized loan obligations.
Matt Hornbach, who leads research of rates products, Sivan Mahadevan, who heads corporate credit, and Rashique Rahman, leader of foreign exchange and emerging markets, will report to Tirupattur in addition to reporting to McLeish, according to the memo.
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