As part of its initiative to expand and develop its asset management business, Morgan Stanley announced it added Sophia Drossos to its global macro and asset allocation group

Drossos, who was named a senior investor in the unit, has worked for Morgan Stanley since 2003. She was co-head of its FX strategy.

Edward Riguardi was also added to the unit as a member of its research team. He has worked for Morgan Stanley since 2008 as an analyst.

The two executive changes are part of Morgan Stanley initiative to expand its asset management business. The unit suffered heavy losses after the financial crisis.