FIXED INCOME

AQR rates and FX trading head joins OpenDoor

Hicham Hajhamou will oversee the treasury inflation protected securities business at OpenDoor.

By Hayley McDowell hayley.mcdowell@strategic-i.com December 13, 2017 10:16 AM GMT

The former head of rates and FX trading at hedge fund AQR Capital Management has departed to join all-to-all fixed income trading firm OpenDoor Securities.

Hicham Hajhamou will be responsible for overseeing OpenDoor’s treasury inflation protected securities (TIPS) business as a managing director.

He is a global macro and market structure specialist with experience in both OTC and e-trading, discretionary and systematic trading strategies.

Hajhamou started out at Lehman Brothers where he spent six years as vice president of rates and mortgage trading, and then worked at BNP Paribas and Pierpont Securities before joining AQR.

“Market structure is constantly evolving around the world, particularly in the bond markets where everything is becoming increasingly electronic,” said Susan Estes, CEO at OpenDoor.

“[Hajhamou] is an outstanding addition to the OpenDoor team and will play a pivotal role in enhancing our capabilities and broadening our presence into inflation-linked products.”

OpenDoor has seen significant growth recently with an additional eight dealers onboarded over the past seven months, trading on the platform alongside institutions with a combined $6 trillion in assets under management.

Hajhamou commented: “OpenDoor is helping to shape the electronification of the fixed income market, while unlocking liquidity at the same time. The company listened to its clients and delivered a product and protocols that reduce costs and minimise market impact.”