Morgan Stanley, the Wall Street lender overhauling its currency-trading business after losses and an internal probe, named new co-heads for the unit.
The New York-based bank said Samer Oweida, global head of FX sales, and Craig Abruzzo, who leads futures and derivatives clearing in Morgan Stanley’s equities business, would now lead the division, according to an internal memorandum obtained by Bloomberg News. Both will report to Jakob Horder, head of the macro division that houses FX trading, the memo shows.
Mark Lake, a spokesman for the lender, confirmed the contents of the memo.
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