MS Names Rates Co-Chiefs As Hadden Departs

Morgan Stanley has named Jakob Horder and Mitch Nadel as co-heads of global rates following the departure of Glenn Hadden, global head of interest rates, in New York.

Horder, head of global structured interest rate products, becomes co-head of global rates in London. He has held a number of senior roles at Morgan Stanley, such as head of Europe, the Middle East and Africa interest rates sales and trading, and head of fixed income capital markets Europe. He joined the firm from Goldman Sachs in 2002.

The firm has named Nadel, previously head of North America liquid flow rates trading, as co-head of global rates in New York. He joined the firm in 2010 and has held senior roles at the firm including head of fixed income for Japan and was also a board director in Morgan Stanley MUFG Securities and Morgan Stanley Japan Holdings. He previously worked at Bank of America, Deutsche Bank and Bankers Trust. Hadden has left Morgan Stanley after three-and-a-half years at the firm. He joined from Goldman in 2011, where he was a partner and head of government bond trading in New York.

Horder and Nadel were unavailable, while Hadden could not be reached. A spokesman at Morgan Stanley declined to comment.