Morgan Stanley has promoted Nick Tranter, managing director and head of equity derivative sales for the U.K. and Ireland, to head of equity derivative distribution for Europe. Tranter, who could not be reached for comment, also retains responsibility for sales to U.S. clients investing in European underlyings. The reason for the re-shuffle could not be determined. Stephanino Isele, managing director and previously European head of equity derivative distribution, is moving to a role as business manager for equity derivatives with responsibility for the development of the sales and trading platform. Isele did not return messages. Anna Lenaghan, spokeswoman for Morgan Stanley, confirmed the move.