Morgan Stanley poached a hedge fund rates salesman from Barclays
Rates sales and trading desks have had a good year. BNP Paribas said yesterday that revenues in its fixed income sales and trading business were up 36% in the third quarter, driven by its macro business. Deutsche Bank says its rates sales and trading revenues have doubled this year.
This market strength seems to be stimulating hiring. Morgan Stanley, which lost some of its senior rates traders to Deutsche Bank around this time last year, has recruited Alessandro Caruso from Barclays.
Caruso, a VP-level hedge fund rates salesperson, joined this month according to his LinkedIn profile. He previously spent two years at Barclays and five years at SocGen in London.
Last month, Ted Pick, head of Morgan Stanley’s investment bank said that Morgan Stanley had hired back around 50% of the 1,200 fixed income staff it let go in 2015.
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