Morgan Stanley continues to build fixed-income team

Morgan Stanley has made a number of senior appointments to its interest rate, currency and credit (IRCC) group in Asia-Pacific, as it continues to build-out its distribution capabilities across fixed-income products.

Larry Chi has joined the firm as managing director and head of IRCC China sales. He joins from Credit Suisse where he was most recently head of China fixed-income sales for financial institutions. He is based in Hong Kong.

Morgan Stanley has also hired three additional professionals from Credit Suisse to its IRCC China sales team covering financial institutions. They include Bing Feng, who will shortly join as an executive director.

Jason Guo and Xie Rong will be joining the China corporate sales team in October as executive directors based in Hong Kong. They were previously with J.P. Morgan where they covered state-owned enterprises and key private businesses.

Morgan Stanley has also built on its corporate coverage in Taiwan with Eric Kuo joining as an executive director. Kuo brings more than 10 years of experience with Taiwan corporations, most recently from J.P. Morgan where he was instrumental in growing the bank's foreign exchange and rates corporate franchise.

In August, Morgan Stanley's head of IRCC in Asia-Pacific, Ranodeb (Ronnie) Roy, noted that the bank's IRCC business is doing well. "We are actually in a very, very sweet spot in the fixed-income markets. After every crisis there comes a period when interest rates tend to be low, yield curves tend to be steep, currencies continue to be volatile and credit tends to rapidly come in. We are in that good place right now. So all of those three businesses [interest rates, currency and credit] are doing incredibly well," he said.