Morgan Stanley’s U.S. head of structured-products credit trading, Nirjhar Jain, has stepped down from his role Bloomberg reports. Jain oversaw trading of residential- and commercial-mortgage bonds, asset-backed securities (ABS) and collateralized loan obligations (CLO) at the New York-based firm.

Mike DePietro, head of residential- mortgage-backed securities trading, Rebecca Hogan, head of consumer ABS and CLO trading, and Kevin Ng, who manages commercial-mortgage bond trading, will now work under Jay Hallik, global head of securitized- products trading. Jain joined Morgan Stanley from Deutsche Bank in 2010.

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