Notley takes time out from Morgan Stanley

Notley is understood to be taking time off for personal reasons. During his absence, his post will be filled by Colin Bryce, the head of European commodities, and Roberto Hoornweg, the head of European emerging market fixed-income.

Notley will not return to his current post, but will take a different job on his return to the bank - his new appointment has not yet been determined.

Notley joined Morgan Stanley in 1986 and, after spending time in the interest rate derivatives group, became co-head of fixed income in Europe in 2004.

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