Morgan Nabs Derivatives Execs: Report

Morgan Stanley hired the heads of the exchange-traded derivatives business at UBS, according to a report.
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Morgan Stanley

(MS) - Get Report

hired the heads of the exchange-traded derivatives business at

UBS

(UBS) - Get Report

according to a

Financial Times

report Thursday.

Clark Hutchison, who spent 18 years at

Goldman Sachs

(GS) - Get Report

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,

JPMorgan Chase

(JPM) - Get Report

and

Newedge

, which is owned by

Societe Generale

(GLE)

and

Calyon

, the report states.