Barclays' trader resignations keep coming: now it's the co-head of FX trading
Barclays is cutting costs and jobs in its investment bank, but it's also losing a lot of the senior traders it would probably like to keep.
Get Morning Coffee ☕ in your inbox. Sign up here.
Multiple sources at the bank say Barclays' London co-head of G10 FX trading, Jerry Minier, resigned on Friday. Neither Barclays nor Minier responded to a request
Minier appears to be the latest in a succession of senior traders to walk away from the British bank. Justin Firmino, the head of USD swaps trading, resigned in early August. Ankur Aneja, one of Barclays' top MDs in euro swaps trading, resigned in July. Nishant Singh, a top US dollar swaps trader, left for BlueCrest in May. James Armstrong, head of euro swaps trading, left for Balyasny in June along with Nico Huss on the same team.
The departures come after Barclays appointed Hossein Zaimi as its London global head of macro trading in June 2024. Zaimi joined Barclays from HSBC in 2022. He spent 18 years at HSBC, the latter five of which were in senior equities trading roles.
The cause of the departures isn't clear. "People don't want to be screwed in compensation for a third year," says another, speaking off the record. "Barclays wants to cut costs, but it doesn't understand that it also needs the right people to boost revenues."
Have a confidential story, tip, or comment you’d like to share? Contact: +44 7537 182250 (SMS, Whatsapp or voicemail). Telegram: @SarahButcher. Click here to fill in our anonymous form, or email editortips@efinancialcareers.com. Signal also available.
Bear with us if you leave a comment at the bottom of this article: all our comments are moderated 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. Eventually it will – unless it’s offensive or libellous (in which case it won’t.) Eventually it will – unless it’s offensive or libellous (in which case it won’t.)
