HSBC recruits global head of currency options

HSBC has hired Matt Desselberger from Deutsche Bank as its global head of currency options. He succeeds Martyn Brush, who will serve in a new position as head of derivatives business management, responsible for the operational side of the derivatives business.

Desselberger will head the strategic development of the forex options business and lead a 30-strong options team. He reports to Mike Powell, HSBC's treasurer for Europe. Desselberger was previously head of the corporate structuring group at Deutsche Bank and has also worked at Credit Suisse and Bankers Trust.

“HSBC has been growing its currency options business over the last two years, steadily expanding the product range and expertise provided to our clients. We intend to further develop and strengthen our currency options offering and Matt Desselberger is well-placed to build on our success,” Powell said.

He added that Brush’s appointment will help develop the operational systems platforms for all derivatives products. Both positions are London-based.

The timing of the moves is still to be decided, said HSBC.