FX trading veteran recently revealed to the public that he has joined US-headquartered multinational banking and financial service provider Morgan Stanley as one of its spot fx traders. Droege made this move public via changes made to his LinkedIn profile according to which his tenure with the US-based financial service provider started this month.
The move by Morgan Stanley to hire veteran trader Michael to join its forex team can be viewed as sign of the firm’s focus on forex and flow management business, given the increasing demand among global investors which has seen quite a boom since investor sentiment surrounding riskier derivatives have considerably declined, owing to ongoing geopolitical woes and trade wars which has been affecting price action in global financial market considerably.
It should be noted that the bank’s interest in the forex industry and forex related technology has been growing steady for more than a year now given the firm’s decision to invest nearly US$ 15 Million in forex trading platform and technology service provider Integral back in November 2018. Morgan Stanley invested in Integral via its private equity arm while also providing the technology provider with several other resources along with the investment to ensure proper growth of the firm.
Droege is an industry veteran with nearly 25 years of experience in the financial services sector with a high level of knowledge on FX spot trading, equity investment, and portfolio management sectors. Prior to joining the US banking service provider, Michael served as Chief Risk Officer of Savedroid AG – a German Fintech firm which provided AI-based saving plans for Bitcoin and top altcoins for a period of nearly seven months. Prior to his tenure at Savedroid, Michael served as Director of FX Spot Trading at Credit Suisse for nearly four years and nine months.
Before his term at Credit Suisse, he served as Portfolio Manager for Switzerland based investment firm A&M Trading Capital AG for 14 months. Some of the other notable roles he has held in his long career include, Head of FX Spot Trading at West LB, Private Equity Investor for 360 Trading Networks and Director/Senior FX Spot Trader at Dresdner Kleinwort Wasserstein. Germany based 360 Trading Networks and Dresdner Kleinwort are the two firms where Michael spent the majority of his career serving more than a decade at each firm.
Aside from his current role as spot fx trader at Morgan Stanley, Michael also served as Angel Investors for Germany headquartered firms – Overbird AG and CRX Markets AG and also serves as Private Equity Investor for Green Dot Bioplastics LLC and Talents Connect both of which are from Germany as well. It should be noted that aside from Michael, Morgan Stanley also hired another former Credit Suisse executive – Andrew Peel who now serves as head of digital asset markets at US banking service provider.
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