Dee gets FIG

Michael Dee gets a new role, running Morgan Stanley''s financial institutions group in Hong Kong.

Michael Dee, the head of investment grade debt capital markets at Morgan Stanley Dean Witter in Hong Kong, is to move across the hall into investment banking. There he will head up the financial institutions group (Fig) while retaining his titular control of investment grade debt.

According to sources at Morgan Stanley, the move makes sense because many of the investment grade clients that Dee has been working with on the bond side are financial institutions - such as DBS  - and so he already knows them well. He was instrumental in completing both DBS' international bond issues in August 1999 and March 2000.

The Fig team covers private equity firms, banks and some entities with government connections such as central banks. At the moment it is run by Harrison Young, vice-chairman of Morgan Stanley Dean Witter in Asia.

Morgan Stanley recently hired Kate Richdale from JP Morgan to join the debt capital markets group, and the firm is relocating another DCM banker from New York to Hong Kong to further bolster the group. Last year, Dee's co-head of debt capital markets, Elizabeth Chandler, returned to Morgan Stanley in New York.