Morgan Stanley
ORG
Morgan Stanley
Morgan Stanley, in a bid to bolster its growing high-yield business, said yesterday that it had hired two senior bond executives from competitors Citigroup and Goldman Sachs. Ashok Nayyar will join Morgan Stanley as a managing director and co-head of leveraged and acquisition finance. Charged with the daunting task of revamping Morgan Stanley's struggling brokerage division, Mr. Gorman, after an initial meeting with Mr. Mack last Friday, has spent the week meeting with the firm's top-producing brokers. Morgan Stanley, in a bid to bolster its growing high-yield business, said yesterday that it had hired two senior bond executives from competitors Citigroup and Goldman Sachs. Charged with the daunting task of revamping Morgan Stanley's struggling brokerage division, Mr. James Gorman, after an initial meeting with Mr. John Mack, has spent the week meeting with the firm's top-producing brokers.