U.K. lender Barclays has reportedly hired more than a dozen former prime brokerage executives from Credit Suisse, including the ex-head of prime derivatives services and prime sales for the region.
Barclays has hired 18 former Credit Suisse prime brokerage executives, according to a «Bloomberg» report citing named sources.
Amongst the hires are Credit Suisse’s ex-head of prime derivatives services and prime sales for Europe, the Middle East and Asia John Dlubac, who joins Barclays as a managing director reporting to head of U.S. prime derivatives service and quant prime Craig Robertson.
Barclays Expansion
Barclays is expanding its prime brokerage business as rivals like Credit Suisse retreat following the multi-billion dollar losses from the collapse of family office Archegos Capital Management.
Chief executive CS Venkatakrishnan noted last month the British bank was indeed gaining market share from competitor exits.
Credit Suisse said it will wind down its New York-based prime brokerage division and permanently ax 69 employees.
