In a bid to emerge as one of top three brokers of the world in the exchange-traded derivatives business, Morgan Stanley has hired Clark Hutchison and Bill Templer, co-heads of exchange-traded derivatives at UBS. Morgan Stanley’s interest in the exchange-traded futures and options business comes in the wake of growing criticism on over-the-counter derivatives such as credit default swaps, for their lack of transparency.
They will lead a team of more than 250 staff across the globe. Earlier, the duo had facilitated UBS to climb the ladder in exchange traded derivatives business and supervised UBS’s 2006 acquisition and integration of ABN Amro’s futures and options business.
Craig Abruzzo, Head of listed derivatives for North America, Morgan Stanley, said: “Adding these two industry leaders to our roster fits in with the long-term strategic growth plan that we have for this business.”
