Morgan Stanley has hired former Citi electronic trading head Richard Evans to take charge of its automated execution business in the European equity markets, the Wall Street Journal reports.
Evans will join the US investment bank in early September to oversee European strategy for its Delta One trading system, the paper says, citing people close to the bank.
Evans was made redundant from Citi in November last year after a ten-year career, which culminated in his promotion to head up the bank's electronic execution business globally out of London.
The thirty-four year old was seen as a rising star in the post-MiFID European equity markets. A strong proponent of the use of smart order routing and automated trading strategies in fragmenting markets, Evans played a key role in the establishment of the Turquoise MTF and also sat on its board.