Stephen Mettler, who oversaw Morgan Stanley’s foreign exchange and interest rates trading businesses in his position as head of macro, has left the bank.
Mettler, who joined the firm in 1997, has retired, according to an internal memo. A spokesperson for the bank confirmed the memo’s contents. It is understood the heads of FX and rates, who reported to Mettler, will now report directly to Ken deRegt, global head of fixed income.
During his time with the bank Mettler held a variety of roles in London, Asia and the US. He became global head of foreign exchange options in 2000, global head of foreign exchange sales and trading in 2007 and head of global foreign exchange and emerging markets in 2008.
In 2010, he took the position of head of macro, which involved overseeing interest rates and foreign exchange trading, and also the rates and currency parts of the bank’s emerging markets group.
Morgan Stanley’s chief financial officer Ruth Porat said earlier this month that fourth quarter revenue from foreign exchange trading was up “significantly” from a year earlier, while down from the third quarter. Interest rate trading revenue had increased “modestly” from the third quarter and “materially” from a year earlier, she said.