Morgan Stanley global head of rates strategy, Laurence Mutkin, has left the investment bank to join BNP Paribas, Financial News has learnt.
Mutkin left the bank on July 4, according to the
UK's Financial Services Register. He was a frequent commentator in the
press for Morgan Stanley and spent seven years at the firm. He is set to
join BNP Paribas, according to a person familiar with the situation,
however his role at the French bank is unknown.
Mutkin could not be reached for comment.
According to an internal memo sent
on Friday and seen by Financial News, Matt Hornbach, head of US rates
strategy at Morgan Stanley, has replaced Mutkin. Hornbach will continue
in his current position alongside his new role. He has been at the US
investment bank for 13 years.
The memo also announced the
appointment of strategists Anthony O’Brien and Anton Heese as co-heads
of European rates strategy. O’Brien previously held the role of UK
interest rate strategist, while Heese was head of global inflation
strategy.
Mutkin was responsible for the bank’s European strategy within his global role.
All three appointments are effective
immediately and will report to Morgan Stanley global director of fixed
income research, Neil McLeish.
The news follows Morgan Stanley's
second-quarter results this month, with the bank reporting a net profit
rise of 66%, beating analyst estimates, as the investment bank bounced
back from a slump in trading revenue a year earlier.
