Remember Alok Modi? He's the Barclays trader who cunningly quit the British bank for Morgan Stanley in late 2013, just before Barclays began trimming its fixed income trading business. He's just received another big promotion.
Insiders say Modi is moving to Singapore, where he will become head of macro trading for Morgan Stanley's APAC business.
Modi joined Morgan Stanley in 2014 as head of government bond and CDS trading for Europe. In January 2015, he was promoted to managing director. Three years later, he's now been promoted again - and been transferred to the other side of the world.
Modi's move to Singapore with Morgan Stanley comes as banks like Goldman Sachs need to rebuild their London macro trading businesses following various exits earlier this year. It also follows Goldman's addition of Hamza Hoummady the former head of European rates and options trading at Barclays, as an MD level strat at Goldman Sachs. Hedge funds Citadel, Balyasny and Eisler Capital are also building rates trading teams in London: someone like Modi is in demand.
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