Morgan Stanley loses global head of FX product strategy

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Neill Penney, global head of foreign exchange product strategy at Morgan Stanley, has left the bank. Based in London, Penney had been with the US firm since November 2009. He previously worked as global head of product strategy at multibank FX trading platform FXall, reporting to chief executive and founder Phil Weisberg. He joined FXall in 2001. Morgan Stanley has seen a number of departures from its FX business this month, including Brian Perry, head of UK, European and Middle Eastern real-