Morgan Stanley's head of G3 rates trading just quit
Josh Hooker, head of G3 (U.S., Japan and the eurozone) rates trading at Morgan Stanley, is understood to have left the bank.
Morgan Stanley isn't commenting on Hooker's whereabouts but sources say he disappeared from the desk yesterday. It's not clear where he's going next.
Hooker ran Morgan Stanley's historically successful STIRT rates business after joining from RBS as a vice president in 2010. He was promoted to managing director (MD) in 2017.
Hooker's exit comes after Morgan Stanley dismissed several for concealing losses of $140m on emerging markets trades. His resignation is thought to be unrelated.
Hooker isn't the only person to leave Morgan Stanley's rates business this year. Sources say Luke Parker, another senior rates trader, who oversaw long-end rates swaps, also left recently to run Nomura's rates business.
Morgan Stanley is expected to recruit to fill the gaps left by Hooker and Parker next year.
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