Morgan Stanley has hired, one of London’s leading electronic traders, Richard Evans, a former top trader with Citigroup Inc , as head of strategy in Europe. He will join Morgan Stanley in early September to oversee European strategy for its Delta One trading system.
Richard Evans, left Citi in November, was a founding board member of Turquoise, the pan-European equity trading venture backed by nine of the world’s biggest investment banks.
Evans was heavily involved in the “onward routing” agreement between Citigroup and the European unit of Nasdaq OMX Group Inc., a rival to Turquoise, under which Citigroup routed orders to other exchanges on behalf of Nasdaq’s new system.
His appointment by Morgan Stanley is the latest sign that investment banks are keen to grow their share trading teams to take advantage of what they perceive to be improving equity markets.
Richard Evans joined Citi from Deutsche Bank AG, where he served most recently as Deputy Chief Risk Officer. That role included running Treasury and Capital Management, Market Risk Management, and Investment Risk Management, including significant involvement in the bank’s strategic risk decisions. He was named the “Risk Manager of the Year” in 2004 by Risk Magazine.
Before joining Deutsche in 2000, Mr. Evans served in a variety of senior roles at JP Morgan over nearly 20 years, his last role being Vice Chairman of JP Morgan’s Risk Management Committee and Global Head of Risk Management.
Mr. Evans, 47, has an MA in Economics from Gonville and Caius College, Cambridge University. He was a Board Member of Euroclear SA and Euroclear Plc and Chairman of that Board’s Risk Committee. He is also a past Chairman and member of the International Financial Risk Institute (IFRI)’s Executive Committee, a not-for-profit association of Chief Risk Officers from the world’s major financial institutions.
