SAO PAULO Oct 17 Morgan Stanley, which
recently rose to become Brazil's No. 2 broker by trading volume,
has hired Nilton David as a managing director to head trading
desk activities in the country, two people with knowledge of the
matter said on Monday.
The people, who asked for anonymity because the decision has
not been made public, said David's appointment had been
announced to employees in an internal memo. David is joining
Morgan Stanley from Canvas Capital, a São Paulo-based hedge fund
where he was a partner.
A public relations executive working for Morgan Stanley's
unit in São Paulo confirmed the appointment but declined to
David's hiring comes about a month after Bernardo Zerbini
left as the head of Morgan Stanley's trading desk for Latin
America, one of the people said. David also previously worked at
Citigroup Inc, heading the foreign exchange volatility
desk in the bank's global emerging markets division.
Morgan Stanley's Brazilian brokerage was second only to UBS
AG in terms of trading volumes in the first nine months of the
year, according to brokers, with a market share of about 11
(Reporting by Guillermo Parra-Bernal; Editing by Tom Brown)