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Foreign Exchange

Morgan Stanley appoints Asia FX sales chief

A managing director at Fortress Investment Group is moving back to the sell side as a managing director and head of FX sales for Asia at Morgan Stanley, according to people familiar with the situation.

Toru Tokoyoda, who will take up the position in mid-August, will report both to Stephen Glynn, Asia Pacific head of fixed income division (FID) and co-global head of FX emerging markets, and Ben Falloon, head of Asia Pacific FID sales. Tokoyoda joined Fortress Investment Group in September 2011, and has worked there for less than a year. He left Nomura in April 2011 from his position as head of FX and local rates institutional sales for Asia Pacific.

At Nomura, he was replaced by Trevor Rosmarin, who joined the bank in November 2009 from Bank of America Merrill Lynch, initially to head hedge fund FX derivative sales in Singapore.

Before Nomura, where he worked for two years, Tokoyoda was with Lehman Brothers in FX sales, and before that, worked at Goldman Sachs for eight years between 1998 and 2006.

At Morgan Stanley, he is replacing Yuki Hashimoto, who joined Morgan Stanley in 2008 from Credit Suisse. Hashimoto is moving back to Tokyo to assume the role of head of fixed income distribution Japan.

Morgan Stanley declined to comment on the appointment.

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