Barclays’ build-out of its U.S. trading business has begun. It’s just poached the head of U.S. inflation trading from BNP Paribas to lead its business in New York.
Robert Tzucker has just joined Barclays as head of USD inflation trading after just over three years in a similar role at BNP Paribas.
This is Tzucker’s second spell at Barclays. He originally worked for the bank between August 2003 and April 2009. He started out in fixed income research at Barclays – having just completed an MBA at Carnegie Mellon University – but switched across to trading in 2006.
He’s a specialist in treasury inflation protected securities (TIPS), a derivative product designed to protect against negative affects of inflation, as well as other inflation-linked securities in the U.S. market.
Barclays has been shaking up its markets business. Last week it announced a flurry of new appointments, including installing its new head of the investment bank Tim Throsby at the top of its sales and trading operation, displacing global head of markets, Joe Corcoran.
However, Reuters also said that Barclays is about to starting hiring 50-100 people globally for its markets business with a focus on rates, foreign exchange and equities.
Jes Staley said during that bank’s Q1 investor call that the U.S. rates business was a particular poor performer and we understand that Barclays is keen to improve upon this. Expect more rates hires in New York in the coming weeks.
Contact: pclarke@efinancialcareers.com
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