Mass departures of staff from Barclays are turning into a regular annual event. We reported on this seasonal migration both in 2009 and 2010. However, Mike Bagguley, Barclays’ global head of FX trading, speaking to Euromoney a couple of months ago, was adamant that nothing exceptional was going on. “In 2009 and 2010 there’s been more people movement between firms generally, but our overall FX headcount has been up,” he said. This time around, however, Barclays declined to comment.
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