Morgan Stanley Hires IMF’s Moghadam for Sovereign Underwriting

Jul 30, 2014 10:50 am ET

July 30 (Bloomberg) -- Morgan Stanley hired Reza Moghadam, the European department director of the International Monetary Fund, as a vice chairman in its underwriting unit to advise sovereign clients.

Moghadam will join the firm in the fourth quarter and report to capital markets co-heads Raj Dhanda and Dan Simkowitz, New York-based Morgan Stanley said today in a statement. He will advise governments about financing opportunities and risk- management strategy, the bank said.

Sovereign-bond issuance surged to a record this year, according to data compiled by Bloomberg. Morgan Stanley was an underwriter on the U.K.’s sale of 5 billion pounds ($8.4 billion) of inflation-linked bonds this week.

Moghadam has worked at the IMF for more than 20 years, working on issues surrounding the Greek debt crisis and turmoil in Ukraine. Earlier this year, he said Europe has “much work to do” to lay a foundation for stability and growth and called for deeper and broader capital markets in the region.

“Reza has unmatched experience in navigating the landscape of European and global economic policy,” Colm Kelleher, who leads the firm’s investment-banking and trading division, said in the statement. “In his 20 years at the IMF, Reza has played a role in the Fund’s response to almost every major crisis.”