Morgan Stanley merges global FX and EM

The new group encompasses rates, credit and FX, and will be headed by Steve Mettler in New York. Mettler was previously global head of FX. As reported last week, his deputy will be London-based Marcin Wiszniewski (FX Week, December 1).

The bank said the decision to merge the teams was taken due to "significant overlap" between the divisions, including investor and product convergence. The US bank said the move will also allow better risk management for itself and its clients.

As part of the

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