Morgan Stanley hires head of FXEM trading for Asia

Morgan Stanley has announced that David Hong has recently joined the firm from Royal Bank of Scotland as a managing director and head of FXEM trading for Asia. In this position, which he assumed on August 31, he will be responsible for the trading of G10 and emerging market currencies and rates in the region.

Hong is replacing Stephen Glynn, who remains in Hong Kong, but has taken on global responsibilities. Hong too is based in Hong Kong and reports to Glynn, as well as to Senad Prusac in New York. Glynn and Prusac are co-heads of foreign exchange and emerging markets (FXEM). Regionally, Hong also has a reporting line into Hong Kong-based Ranodeb (Ronnie) Roy, who is head of interest rates, credit and currency (IRCC) for Asia-Pacific.

With more than 20 years of trading experience in the Asian markets, Hong is well-known in FX circles in the region. He has spent the past nine years with RBS (and its predecessor ABN AMRO), most recently as head of global Asian FX and short-term interest rate trading, as well as head of FX trading for Asia-Pacific. He has also worked with UBS and J.P. Morgan Chase.

In the announcement, Morgan Stanley said Hong’s experience across interest rates, FX and credit markets will strengthen the firm’s trading capacity and his “extensive regional and global credit contacts will significantly enhance its franchise”.