Morgan Stanley Hires Lead Interest Rate Strategist

London —

Morgan Stanley today announced that Laurence Mutkin has joined the Firm as an Executive Director to lead its European interest rate strategy research team.

Laurence joins Morgan Stanley after six years at Threadneedle Asset Management where he was head of fixed interest strategy, with responsibility for setting overall strategy for Threadneedle's bond funds, and for asset allocation between fixed income asset classes.

Commenting on the appointment, Catherine Gronquist, Director of International Fixed Income Research, said: "Laurence brings with him a rare combination of experience in both fund management and in fixed income sales and trading. We are very pleased to have him running our interest rate strategy team. His appointment underscores Morgan Stanley's commitment to providing clients with the best strategy content."

NOTES FOR EDITORS:

Laurence Mutkin

From 1999 Laurence was an executive director at Threadneedle Asset Management. He has also worked at Salomon Brothers, at Lehman Brothers, and at Tokai Bank Europe. Before he became a strategist, Laurence was a bond salesman. Laurence has an MA in Jurisprudence from Oxford University.

Morgan Stanley

Morgan Stanley is a global financial services firm and a market leader in securities, investment management and credit services. With more than 600 offices in 28 countries, Morgan Stanley connects people, ideas and capital to help clients achieve their financial aspirations.

Morgan Stanley opened its European headquarters in London in 1977 and now employs over 7,500 people in Europe. The Firm's other European offices are located in Amsterdam, Athens, Frankfurt, Geneva, Glasgow, Luxembourg, Madrid, Moscow, Milan, Paris, Stockholm and Zurich.