Morgan Stanley hires FX sales head for Asia

Morgan Stanley has appointed Toru Tokoyoda as managing director and head of foreign exchange sales for Asia.

Based in Hong Kong, Tokoyoda joins from Fortress Investment Group and reports jointly to Stephen Glynn, head of the fixed-income division and co-global head of FX emerging markets, and Ben Falloon, head of Asia-Pacific fixed-income sales.

Prior to joining Fortress Investment Group last year, Tokoyoda had held FX roles at Nomura, Lehman Brothers and Goldman Sachs. In his new role at Morgan Stanley, he replaces Yuki Hashimoto, who is moving back to Japan with the bank to become head of fixed-income distribution for Japan.

Elsewhere, Morgan Stanley recently parted ways with Kieran Arasaratnam, co-head of foreign exchange structuring in London. His departure leaves Stefano Diamantini as sole head of FX structuring for Europe and the Americas.

Arasaratnam had been responsible for building up the bank's structuring franchise along with Diamantini, who joined from JP Morgan in 2010. Arasaratnam's plans are not yet known.

Morgan Stanley declined to comment.