Morgan Stanley has promoted a credit star in a booming business that's poised to set records on Wall Street in 2021
Morgan Stanley has promoted Rachel Russell, a long-time star in the firm's credit division.
Rachel Russell, a Morgan Stanley lifer, was promoted on Tuesday to head of the North America CLO New Issue business, according to an internal memo seen by Insider. The role will include overseeing structuring, syndication and warehouse, according to the memo from Niall O'Rourke, head of global secured lending for Morgan Stanley.
"Rachel has been a leader in both the CLO and Structured Credit businesses since joining Morgan Stanley in 2004," O'Rourke wrote in the memo."She has been integral to the growth of Morgan Stanley's CLO New Issue franchise and has led the efforts to expand the CLO investor base globally."CLOs, which bundle together slices of loans from dozens of low-rated companies into a single investment vehicle, are booming in 2021.
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