Morgan Stanley has made two senior hires as part of an effort to strengthen its global high-yield sales, trading and origination presence. Mitch Petrick, who has officially taken over sole responsibility for the business following a plan first reported in July (BW, 7/27), says there may be further hires before year end, but declines to elaborate.
Joining the firm in New York are Steve Rosen, who becomes an executive director in sales, and Peter Tauckus, a v.p. and high-yield trader. Rosen and Tauckus fill voids created when Armins Rusis, the former high-yield sales manager, and Pat Lynch, a senior trader, moved to the London office as part of the firm's strategy to beef up its high-yield presence there (BW, 7/27). Morgan Stanley will soon have one more opening on the desk as Kevin O'Malley, another senior trader, is set to run high-yield syndicate--a spot that had been vacant since the departure of Matt DeFusco, who left the firm earlier this year.
Rosen, who joins from Lehman Brothers, will continue to cover high-profile accounts such as Deutsche Asset Management, MacKay Shields, GoldenTree Asset Management and Prudential Financial. He declined to comment when reached at Morgan Stanley, and a call to Tom Humphrey, head of credit sales at Lehman, was not returned.
Tauckus joins from Citigroup Investments. In addition to his most recent position trading high-yield bonds on the buy-side at Citigroup, he spent several years as a sell-side trader at Deutsche Bank Securities. He declined comment when reached at Morgan Stanley, and calls to Tom Hajdukiwiecz, portfolio manager at Citigroup, were not returned.