David Wright has been named head of FX trading and distribution at MUFG after three years with the business.
He joined the bank in 2021 as global head of e-FX having and previously served as a strategic transformation consultant at State Street.
Prior to that, Tokyo-based Wright spent 16 years at Morgan Stanley, most recently as a managing director. He has also held roles at FXall and UBS, as product manager and associate director, respectively.
Last July, MUFG and Morgan Stanley signed a Memorandum of Understanding (MoU) to collaborate on their foreign exchange offerings in a bid to further enhance their respective trading businesses.
Specifically, it was confirmed that MUFG’s main banking offshoot (MUBK) would link with fixed income at Morgan Stanley MUFG Securities (MSMS), utilising Morgan Stanley’s global FX business platform.
With the agreement – known as Alliance 2.0 – both sides were set to benefit from an enhanced scale and reach.