Matt Desselberger joins HSBC as global head of currency options, the bank confirms. The hire is the result of Martyn Brush taking the position of head of derivatives business management, with responsibility for all operational aspects of the derivatives business, which was in turn a result of the changes implemented at HSBC in the wake of the appointment of Stuart Gulliver and John Studzinki as co-heads of the bank’s global markets business (see Profit & Loss May 2003). Desselberger and Brush are both based in London and report to Mike Powell, treasurer designate, Europe.
The bank operates a 30-strong currency options group, which Desselberger leads. He is also responsible for the strategic development of the business. He joins from Deutsche Bank, where he was London-based head of corporate structuring group. He has also worked for Credit Suisse First Boston and Bankers Trust.
“HSBC has been growing its currency options business over the last two years, steadily expanding the product range and expertise provided to our clients,” says Powell. “We intend to further develop and strengthen our currency options offering and Matt Desselberger is well-placed to build on our success in this area. Martyn Brush in his new role will help develop our operational and systems platform for all derivatives products to enable us to deliver a world-class product offering to our clients.”