(Bloomberg) -- GoldenTree Asset Management LP, a money manager overseeing $15.9 billion in assets, hired Daniel Ornstein from Morgan Stanley to co-head its trading business.

Ornstein is a partner reporting to Steve Tananbaum, managing partner and chief investment officer at GoldenTree, according to Scott Sunshine, a spokesman for the firm. Ornstein led the North American distressed trading group at Morgan Stanley.

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