McKenzie leaves CME to return to Morgan Stanley

Morgan Stanley has hired Ray McKenzie, previously a director of foreign exchange products at the Chicago Mercantile Exchange (CME), as an executive director in its futures business in New York.

He will start his new job on Thursday and plans to build up the US securities firm's customer futures business alongside its head of futures, Dennis Scurletis.

This will be his second spell at Morgan Stanley. From 1983 to 1994 he worked as a managing director of its forex futures group. He has worked at the CME since December 2001.