Morgan Stanley has hired Arnaud Droitcourt, head of Asian equity derivatives trading at Calyon in Hong Kong, for a new role as executive director and head of exotic trading in the city. "We have a very ambitious plan globally to grow the exotic side of the business," said Droitcourt, who left Calyon last month (DW, 4/4). He added the team is looking to increase product offerings to hedge funds as well as to retail clients in the region.
Equity officials said Morgan Stanley has traditionally been a cash and flow equity derivative house in Asia and not had a major focus on exotic structures. "Looks like they're trying to gain market share," said one market official in Hong Kong.