Morgan Stanley has hired David O'Malley, a buyside portfolio manager handling all derivatives use at Penn Mutual Life Insurance in Philadelphia, as v.p. of credit derivatives product management and marketing to U.S. clients in New York, according to an official familiar with the move. O'Malley joined the firm at the beginning of the month, filling a spot left vacant following the departure of Steven Olentine, who was hired by Swiss Re Financial Products last month as a structured credit derivatives salesman in New York (DW, 9/2).
O'Malley now reports to Jim Vore, v.p. and product manager for credit derivatives sales in New York. While at Penn Mutual Life, O'Malley reported to Peter Sherman, cio. Sherman and Vore did not return calls. O'Malley declined comment.
