June 4, 2009 / 8:16 AM / 10 years ago

UPDATE 2-Morgan Stanley hires UBS derivatives heads-memo

* Clark Hutchison and Bill Templer join Morgan Stanley

* Will leave UBS, serve as co-heads of listed derivatives

* Hutchison to work from New York; Templer from London

* Morgan Stanley shares up 3.7 percent (Adds confirmation, titles, background)

NEW YORK, June 4 (Reuters) — Aiming to become a top-tier broker in the listed futures and options industry, Morgan Stanley (MS.N) hired Clark Hutchison and Bill Templer, co-heads of exchange-traded derivatives at UBS UBSN.VX (UBS.N), according to an internal memo.

The appointment of Hutchison and Templer to roles where they will oversee listed derivatives like options and futures marks a significant step in the firm’s plan to expand its global sales and trading business, the memo said.

The memo, which credits the duo with building UBS’s listed derivatives business, said Hutchison would be based in New York and Templer would work from London.

Hutchison worked for Goldman Sachs for 18 years in both listed derivatives and prime brokerage before joining UBS in 2002. Templer worked for UBS for more than 10 years in various roles in its listed derivatives business.

Mark Panday, a UBS spokesman in Hong Kong, confirmed that Hutchison and Templer had decided to leave the company to pursue other opportunities.

“Over the past three years, Clark and Bill have built our exchange-traded derivatives business to be a market leader,” Panday said.

According to an internal memo obtained last month by Reuters, Morgan hired Alex Ehrlich from UBS as global head of its prime brokerage business.

Morgan Stanley shares were up 3.7 perent at $30.82 in morning New York Stock Exchange trade. (Reporting by Ajay Kamalakaran in Bangalore and Steve Eder in New York; Editing by Muralikumar Anantharaman and Lisa Von Ahn)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below