Morgan Stanley Promotes Two Veterans To Run Foreign Exchange Worldwide

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Morgan Stanley & Co. Incorporated is reorganizing its foreign exchange division by promoting two of its senior staff as co-heads. With nearly $280 million earned in FX and commodities trading last year, Morgan Stanley has become a major player in global markets under what has been until now, a virtually unchanged foreign exchange management structure.

Several weeks ago, Morgan Stanley announced the promotion of Zoë Cruz and Paul Kimball to co-head the foreign exchange division. The two replac