Morgan Stanley has named Michael Pohly , head of credit derivatives trading in New York, global head of structured credit trading, a newly created role. The firm's structured credit trading operation, which previously had a more regional focus, is now global, according to one official. Regional heads in the U.S., Europe and Asia now report into Pohly, who is based in London. Pohly declined comment.
As part of the reorganization, Jared Epstein , managing director and senior credit derivatives trader in New York, has been promoted to head the New York credit derivatives trading desk and will report into Pohly. As the firm's trading volumes continue to grow, the desk is looking to add more traders as well as move into new businesses, said Epstein. High-yield is one sector in which the desk is looking to bolster its activity, however, it is not looking specifically for high yield traders but for all-rounders, he said.