June 11 (Reuters) – Morgan Stanley (MS.N) has hired a banker from UBS (UBSN.VX) to oversee the marketing of listed derivatives in Asia, sources told Reuters, as the U.S. bank seeks to boost its share in the listed futures business.
Chris Chong has been hired as an executive director responsible for marketing listed derivatives in Asia, one of the sources, who was aware of the move, told Reuters.
His role will be to coordinate the listed derivatives marketing strategy with the prime brokerage division, which serves hedge funds, Morgan Stanley electronic trading and the traditional trading floor, sources said.
Chong was previously chief operating officer for UBS Futures in Singapore. UBS confirmed his departure.
Morgan Stanley was not available for comment.
Last year Morgan Stanley had hired Clark Hutchison and Bill Templer, who were co-heads of exchange-traded derivatives at UBS.[nBNG380841]
(Reporting by Saeed Azhar in SINGAPORE and Mia Shanley in STOCKHOLM)