Barclays is on a roll. Fresh from hiring Asita Anche, Goldman Sachs' former quant trading star as head of a new cross-asset quantitative trading unit, it's now picked up a new head of electronic trading in Europe from Knight Capital Group in London.
Sources say Barclays has hired Graham Wayne, KCG's head of EU Electronic trading. KCG confirmed Wayne's exit. He's arriving at Barclays in September to join the electronic product team, reporting to Nej D'Jelal, head of electronic equities product, EMEA, who has responsibility for electronic trading supervision and product development. Eric Krueger will remain responsible for sales of Barclays' electronic business in EMEA.
The hire comes after Joe Mecane, the former global head of Barclays' electronic equities business, left for Citadel Securities in June. Barclays insiders say the bank is reviewing its electronic trading operations in the U.S. in particular, where it never recovered from the dark pool scandal of 2014. John Neary, former head of equity trading at Morgan Stanley in the Americas, is understood to be helping Barclays on a consultancy basis.
Barclays confirmed Wayne's appointment. The hire is a big catch for the British bank as it looks to build equities revenues after they fell 10% year-on-year in the first quarter. Wayne spent four years at KCG after joining from Marex Spectron (where he was an independent futures trader) in 2013.
Barclays' investment bank is now run by Tim Throsby, the former global head of equities at J.P. Morgan. Throsby joined Barclays in September 2016 after successfully building the electronic trading business at J.P. Morgan. The bank has already hired over 20 people for its European equities business this year.
Banks like Goldman, BAML, Unicredit, J.P. Morgan and Citi have also been building their electronic trading businesses this year.
Photo credit: Barclays Bank London by Duncan Rawlinson is licensed under CC BY 2.0.