Morgan Stanley Hires Saito From UBS to Lead Electronic Trading in Japan

Morgan Stanley hired Takayuki Saito from UBS AG to run electronic trading in Japan and strengthen broking at its venture with Mitsubishi UFJ Financial Group Inc.

Morgan Stanley MUFG Securities Co., formed in May, appointed Saito earlier this month as executive director overseeing electronic trading in Japan, said Natsuo Nishio, a Tokyo-based spokesman for the venture.

The New York-based bank in January hired Deutsche Bank AG’s Zach Tuckwell as head of electronic trading in Asia. Last month it became the first brokerage to trade on Nomura Holdings Inc.’s Chi-X Japan proprietary trading system, Nishio said.

Morgan Stanley’s trading commissions rose 35 percent to $1.3 billion in the quarter ended June 30 from a year earlier and accounted for 17 percent of total revenue in the period.

Saito formerly was head of direct execution services at UBS Securities Japan Ltd.

To contact the reporter on this story: Takahiko Hyuga in Tokyo at thyuga@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.