Now's not a good time to work in credit trading. After a dreadful 2015, most banks aren't hiring. Nor are hedge funds. If anything, both are firing - BlueCrest reportedly just let go of both Daniel Escobar, a credit trader it hired back in 2013, and Jihan Bowes-Little, the credit trader come-rapper it hired back in 2012. However, one senior credit trader is riding the wave.
Juan Blasco has just joined Spanish bank BBVA as global head of syndicate for bonds and loans and bond distribution. Blasco was previously head of credit products at Lloyds, where he was promoted to run the money-markets business in October 2015. Headhunters say he left the bank late last year and been working out his notice period.
What's Blasco's trick for finding a new senior credit job in this difficult market? Try going back to what you already know: he worked for BBVA previously as head of credit markets between 2005 and 2012.
Never, ever, burn bridges when you work in finance.