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JAN 16, 2013 - Yahoo! News

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Morgan Stanley cuts Asia commodity jobs including two VPs

SINGAPORE (Reuters) - Morgan Stanley has laid off two vice-presidents and one or two other employees in its commodities division as part of a global plan to shed staff and cut costs, sources familiar with the matter said on Wednesday. The move comes after the bank has said it would not give up on the fixed income, currency and commodities trading business, known as "FICC" in Wall Street circles, and wanted to boost market share in FICC by two percentage points. Morgan Stanley declined to comment. The sixth-largest U.S. ...

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