HSBC has hired Matt Desselberger, who previously ran the corporate structuring group at Deutsche Bank, as global head of currency options as it continues to shake up its global markets group under Stuart Gulliver's leadership.

HSBC has a strong cash and foreign exchange franchise globally, but the bank has fallen behind its competitors in the institutional market. The hire of Desselberger is intended to help develop HSBC's options business with hedge funds, cash funds and other clients.