Morgan Stanley (MS) hired Stephen Hull for the newly created post of co-head of global foreign exchange strategy this week, according to an internal memo.

Hull will be based in London and will share leadership of the team with Sophia Drossos, who is based in New York. Hull will start in August.

The duo will report to Jim Caron, global head of interest-rate strategy.

Hull joins from Nomura Holdings Inc. (NMR), where he was head of foreign exchange research for Europe. Previously, he worked at Lehman Brothers Holdings Inc. (LEHMQ). Nomura acquired Lehman's European and Asian operations after Lehman filed for bankruptcy in September.

At Lehman, he had been global head of foreign exchange strategy and responsible for G10 macro FX research. Prior to Lehman, Hull worked as a portfolio manager at SemperMacro Capital, a macro-focused hedge fund. He spent the earlier part of his career in various roles at Goldman Sachs Group (GS).

A Nomura spokesman said the firm has plans to replace Hull.

-By Jessica Papini, Dow Jones Newswires; 201-938-2437; jessica.papini@dowjones.com