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Foreign Exchange

Morgan Stanley FX COO resigns

Morgan Stanley’s chief operating officer of foreign exchange has left the firm, according to sources familiar with the situation.

Martine Bond, formerly managing director and COO of FX and emerging markets at Morgan Stanley, is believed to be moving to State Street Global Markets to head its e-exchange business. Bond was head of a four-strong FX prime brokerage team hired by Morgan Stanley from JPMorgan in 2009.

Bond was promoted to COO at Morgan Stanley in March 2011, and in October 2011 she was involved in the launch of the bank’s FX Gateway product, its multi-manager platform aimed at providing institutional investors access to select currency managers.

Morgan Stanley has yet to name a successor to Bond.

State Street was the most improved bank by market share in this year’s Euromoney FX Survey. It rose five places to 17th overall with a market share of 0.92%, and rose six places to ninth with real-money investors.

Guy Kirby, global head of FX sales at State Street, told EuromoneyFXNews in an interview earlier this year that the bank continues to grow its market share with all client sectors.

Morgan Stanley and State Street declined to comment.

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