Jack DiMaio, Long-Time Fixed Income Leader, to Join Morgan Stanley as Global Head of Interest Rate, Credit and Currency Trading

Morgan Stanley will also take a minority stake in D/A Capital

Morgan Stanley (NYSE: MS) announced today that Jack DiMaio will join the Firm as the Global Head of Interest Rate, Credit and Currency trading. Mr. DiMaio, who has more than 20 years experience in the bond and credit markets and previously served as the Head of Fixed Income (North America) at Credit Suisse as well as the Head of Alternative Investments at Credit Suisse Asset Management, will also join Morgan Stanley’s Management Committee. He will report to Michael Petrick, Global Head of Sales and Trading.

Walid Chammah, Co-President of Morgan Stanley, said, "Jack DiMaio is a well-regarded bond trader with a proven track record of building talented and profitable fixed income teams. We believe Jack is ideally suited to help us drive improved performance in our fixed income business as we look to leverage the strong talent and build upon the platform we have in place.’’

Mr. Petrick said, “It’s not often that one has the opportunity to hire someone of Jack DiMaio’s caliber, and we are pleased that he is bringing his vast experience to bear in the leadership of our fixed income sales and trading business. Jack’s fixed income expertise and leadership skills will be particularly valuable as we look to continue building out Morgan Stanley’s client flow businesses and seize attractive market opportunities in the months ahead.”

As part of the Firm’s strategic plan to further strengthen Morgan Stanley’s client flow businesses, the Firm earlier this month also hired Managing Director Al Chinappi and six other sales and trading professionals in emerging market credit, who will significantly strengthen its market position in that sector.

Morgan Stanley also announced that it will take a minority stake in DiMaio Ahmad Capital LLC (D/A Capital). Nasser Ahmad will become the sole managing partner of D/A Capital, and Mr. DiMaio will continue his relationship with the firm as a member of its advisory board. D/A Capital is an investment management firm specializing in credit products.

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals from more than 600 offices in 36 countries. For further information about Morgan Stanley, please visit www.morganstanley.com.