New heads of global listed derivatives for Morgan Stanley

The pair were hired from UBS, where they were co-heads of exchange-traded derivatives. They will assist Craig Abruzzo, head of listed derivatives for North America. Hutchison will be based in New York and Templer will be based in London. The roles are newly created and they will start work in the next four months.

At UBS, Hutchison and Templer oversaw the acquisition and integration of ABN Amro's futures and options business in October 2006. Hutchison joined UBS in 2002 after spending 18 years in Goldman Sachs' listed derivatives and prime brokerage businesses. Templer had been at UBS for more than a decade holding various roles in the bank's listed derivatives business, most recently as chief executive of the bank's clearing and execution services.

The pair have not been replaced at UBS. Daniel Coleman, joint global head of equities, will work with regional heads Reinhardt Olsen (US), Tim Woodward (Europe, the Middle East and Africa) and David Gray (Asia-Pacific) to determine the future leadership of the exchange-traded derivatives business, an official at the bank said. He declined to give a timescale for any new appointments.

See also: Credit Suisse hires investment banking head for Americas