MONEY MANAGEMENT

Morgan Stanley Investment Management hires head of U.S. institutional sales

Aiden Redmond has been named managing director and head of U.S. institutional sales at Morgan Stanley (MS) Investment Management, said Matt Burkhard, Morgan Stanley spokesman.

The position is new. Mr. Redmond will report to Paul Price, managing director and global head of distribution.

Prior to joining MSIM, Mr. Redmond was head of institutional sales at Delaware Investments. Marlene Petter, a spokeswoman for Delaware Investments, said the company is in the process of seeking a replacement.