Elaine LaRoche, one of the highest ranking women executives in the municipal bond market, has left her post as director of Morgan Stanley's public finance unit to take a senior management position with the firm.

Effective immediately, LaRoche will serve as head of marketing, reporting directly to the firm's president, John J. Mack. She replaces Neal Garonzik, who will assume the newly-created position of head of North American and Latin American equities.

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