Simon Macdonald, Morgan Stanley’s former head of Asia rates sales, has resurfaced in a similar role at HSBC in Hong Kong.
Macdonald, who reportedly left the US bank in December, has joined HSBC as a director and head of G10 rates sales for Asia Pacific, according to his online profile.
He was at Morgan Stanley in Hong Kong for about one year and four months, and prior to that spent three years at Standard Chartered as head of Hong Kong hedge rates sales for emerging markets, ANZAC and G10.
Macdonald started his career at Deutsche Bank in Dublin in 1998, later moving to London with the German firm to work in hedge funds and leveraged accounts sales.
In 2008, he relocated to Singapore with UBS to focus on macro/interest rate derivative sales, according to his profile. He stayed in this job until 2012, latterly as an executive director, and also working in Hong Kong and Sydney
While senior equity sales appointments have become a rarity in Singapore and Hong Kong – following a string of redundancies over the past two years – salespeople in rates and FX are enjoying a more buoyant job market, say recruiters.
Last month UBS hired Rene Schwarzl from Standard Chartered as an executive director in FX global macro sales. Goldman Sachs recruited two new EDs, Steve Ji Xu and Kevin Feng, into its Asian macro sales and trading team in July.
Macdonald’s new bank has some catching up to do in G10 rates sales. HSBC ranked in the third-tier in that sector globally for the first six months of 2017, according to Coalition data.
Image credit: V2images, Getty