BNP Paribas hires real-money salesperson from Morgan Stanley

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BNP Paribas has appointed a former Morgan Stanley banker to cover real-money FX sales, according to people familiar with the matter.

Heather Orrico joins the French bank in New York, according to the sources, where she will report to Wendy Rosen, head of real-money FX sales. Orrico had been at Morgan Stanley for three years, joining the US bank in September 2009. In this year’s Euromoney FX survey, BNP Paribas climbed five places to 15th with real-money accounts in North America, taking its market share from 0.95% to 2.25%.