Funds News

UPDATE 1-MOVES-Morgan Stanley commodities executive Cross retires-memo

(Adds details on Cross’s career and commodities investor business)

NEW YORK, May 1 (Reuters) - Ben Cross, a senior executive in Morgan Stanley’s commodities trading business, is retiring, according to an internal memo seen by Reuters.

Cross is head of the global commodities hedge fund sales group and was previously global head of metals. He is a member of the commodities management committee and spent time in the bank’s London and New York offices.

In the memo, issued on Thursday, commodities trading co-heads Nancy King and Peter Sherk said Cross had been “a meaningful contributor to the department” over the 20 years he spent at Morgan Stanley.

King and Sherk recently folded the hedge fund business into a broader group that sells commodities products to retail and wholesale investors as well. That business is co-headed by Benno Meier and Amrik Sandhu. (Reporting by Lauren Tara LaCapra; Editing by Chizu Nomiyama and Dan Grebler)