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November 8, 2005

Morgan Melds Operations

By Editorial Staff

Morgan Stanley is taking steps to bring its equities and fixed income departments closer together. Jerker Johansson, head of institutional equities, and Neal Shear, head of fixed income, will become co-heads of institutional sales and trading. These new positions give the two execs joint responsibility for equities and fixed income. The move, designed to generate more revenue and lower costs, will provide an "integrated approach to client service," according to the company. Costs are to be pared by eliminating overlapping functions and "streamlining" Morgan Stanley's technology platforms. Certain trading activities will be combined.