Peters, who most recently created and led Morgan Stanley’s cross-asset and asset allocation department, joins the firm this month. As previously announced, Kay Willcox will retire from the multi-sector team in the second half of 2014.

Before Peters became head of global/macro and chief global cross-asset strategist at Morgan Stanley, he was global head of fixed income research and economics and had served as head of US credit research.

Before that, he worked on Salomon Smith Barney’s corporate bond strategy, after having worked as a mortgage-backed securities analyst and in risk management. He also worked for the US Treasury as a bank regulator who specialized in distressed loan workouts and examined the quality of assets.

Prudential Fixed Income has $405 billion in assets under management as of December 31, 2013.