Morgan Stanley has appointed Sam Kellie-Smith, head of equity derivatives trading in London, as Asian head of equity in Hong Kong. Kellie-Smith, who was visiting the Hong Kong office last week, told DW he will permanently relocate in mid-August. "I can't wait," he said, noting he is looking forward to the challenge. He replaces Fabrizio Gallo, Asian head of equity in Hong Kong, now global head of customer trading in New York. Kellie-Smith, who was made managing director two years ago, will have responsibility for cash and equity derivatives trading for both Japan and Asia.
Stefanos Bitzakidis, responsible for structured equity trading, will take on Kellie-Smith's former European role, reporting to David Russell, head of equities trading for Europe. Bitzakidis, who did not return messages by press time, is well-regarded in the market, as is Kellie-Smith. Officials said Bitzakidis has been responsible for boosting Morgan Stanley's structured equity business, which had never been strong, and is seen as a bright spark at the firm. Russell also did not return messages.
Several market officials close to Morgan Stanley said the trading reshuffle was planned before a clutch of New York-based equity derivative officials joined rival firm Wachovia Securities including Ajay Khanna, managing director and head of equity derivatives trading for North America. Further internal moves are likely, suggested one official, as the firm looks to strengthen its equity derivatives trading operation.
