Luc Francois joins Morgan Stanley as global head of equity derivatives and head of European equities

Luc Francois, formerly head of global equities and derivatives solutions at Société Générale Corporate and Investment Banking (SG CIB), and infamously the boss of rogue trader Jerome Kerviel, will start at Morgan Stanley in London on September 8 as head of European equities and global head of equity derivatives. Francois was the leading casualty of the global equities and derivatives reshuffle at SGCIB that followed discovery of the bank's €4.9 billion rogue trading losses in January.

Based in London, Francois will report to Fab Gallo, global head of equities at Morgan Stanley, and Colin Bryce, head of sales and trading at the US bank.

In his new role, Francois will be responsible for equity sales and trading and for equity derivatives globally. Part of Francois’ new role will include the assumption of the responsibilities of David Russell, head of European equity trading, who will move to Hong Kong to become head of equities in Asia for the US bank. Francois will assume