Barclays' leaky rates trading team also leaked in Hong Kong
Last year, Barclays' rates trading team lost at least five senior people in Europe. It also lost at least two senior people in Hong Kong; now that has increased to three.
💥Follow us on WhatsApp for news alerts.💥
Barclays isn't commenting, but we understand that Minyi Yang, a senior rates options trader who had worked at Barclays for his entire adult life since graduating from the London School of Economics with a first class degree in 2008, is not there any more.
Yang did not respond to a request to comment on his intentions. He may intend to join a hedge fund.
Predecessors who left Barclays' Hong Kong rates options team include Shumei Kameyam, who went to Dymon Asia last April last April and Jiujiu Xiong, the bank's former head of APAC rates option trading, who is now with the "35-year-old-killers" at Jain Global.
In London, Barclays' exits last year were centred on the European swaps desk.
Sources say that rates options traders are becoming more sought after as trading opportunities increase in line with Central Bank policy uncertainty. This is particularly the case in Asia, as the Bank of Japan normalizes rates while Chinese rates remain at historic lows.
One Barclays trader said the departures are "perfectly normal" and that the bank is a good place to work. "There is definitely no bad blood," agrees a Hong Kong headhunter. Barclays has hired replacement traders in London in the form of Laura Brown and Lucile Flight. Further hires are expected.
Have a confidential story, tip, or comment you’d like to share? Contact: +44 7537 182250 (SMS, Whatsapp or voicemail). Signal: sarahbutcher.22 Click here to fill in our anonymous form, or email editortips@efinancialcareers.com.
Bear with us if you leave a comment at the bottom of this article: comments are moderated intermittently by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. You must take sole responsibility for comments you post on this site. We will take reasonable steps to weed out anything that we consider to be offensive or inappropriate.
