Morgan Stanley is merging Asian credit and interest-rate derivatives marketing, according to industry watchers. A Morgan Stanley credit official declined to confirm or deny the move, but observed there were a good number of advantages to doing so at this stage in Asia. Asia has a less developed credit market compared with Europe and the U.S., and both credits and rates structures tend to be used by the same investors. He noted marketing to these groups could be more efficient if handled by a joint team rather than two separate groups of marketers and moreover that it would make Asia's geographical size more manageable. He added it could mean doubling the number of people focusing on a particular region.
Pauline Cheung, spokeswoman in Hong Kong, declined comment and it could not be determined who would have responsibility for the combined marketing force.
