hired the heads of the exchange-traded derivatives business at
according to a
Clark Hutchison, who spent 18 years at
before joining UBS, will be based in New York. Bill Templer, who has been with UBS for more than 10 years, will be based in London.
The hires are part of an attempt by Morgan Stanley to become a top-tier broker in exchange-traded derivatives, a business now dominated by UBS, Goldman,
, which is owned by
, the report states.