Morgan Stanley has confirmed it is to create a new derivatives structuring team and make changes to its fixed-income sales and trading teams in Asia-Pacific.

The US investment bank has announced the creation of a new corporate and insurance company derivatives structuring group which will combine the resources from its interest rate, currency and credit (IRCC) and fixed-income capital markets (FICM) divisions. It is also aligning the distribution of IRCC products along country lines.

The new group - known as the corporate and insurance company derivatives structuring group - falls under the control of Julien Begasse, head of FICM Asia-Pacific at Morgan Stanley. Begasse reports locally into the co-heads of global capital markets. The structuring group will be focused on providing both corporates and insurance clients with non-flow/non-recurring risk management solutions.