SINGAPORE/HONG KONG Jan 12 Morgan Stanley
has cut 10 fixed-income jobs, mainly in sales and
trading, in Singapore and Hong Kong including the co-head of
fixed-income sales for Southeast Asia, three sources with direct
knowledge of the matter told Reuters.
The cuts came after the U.S. investment bank said in
December it will cut 1,600 employees in the first quarter as it
trims costs in a difficult period for trading and banking
"The number that I know is around 10," said the source,
referring to the fixed-income job cuts at Morgan Stanley Asia.
The source said the firings included executive directors,
vice presidents and associates, mainly in sales and trading.
Sources said Sneha Sanghvi, who was co-head of fixed-income
sales in Southeast Asia and was a managing director, is the
highest casualty in the latest cull.
They also said a smaller number of jobs in equities and
commodities have also been eliminated in Singapore.
Officials with Morgan Stanley declined to comment.