Morgan Stanley & Co. late Thursday named Ken deRegt head of fixed income sales and trading, replacing Jack DiMaio, who is leaving the firm.
Keishi Hotsuki, previously head of market risk, will replace Mr. deRegt as chief risk officer, at least on an interim basis.
Mr. deRegt, a long-time Morgan Stanley bond trader, was head of fixed income trading when he left the firm in 2000. He returned to Morgan in first quarter of 2008 to become CRO in the wake of the firm's reporting a $9.4 billion subprime mortgage related trading loss in 4Q07.
In an analyst report, Sandler O'Neill called deRegt "qualified, well respected, and seems a natural fit for his new position." Sandler speculated that DiMaio's departure could be tied to a lack of gaining market share in fixed income.
Fixed income encompasses MBS trading.
