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Foreign Exchange

FX people moves: Barclays loses a whole team to the Swiss

Although UBS has had a tough time, it seems the Swiss bank is still a more attractive place than Barclays, which has seen a staggering number of FX departures over the last year (Exodus from Barclays).

So enticing is it that Barclays’ electronic algorithmic trading team – Chris Purves, Mark Meredith and Parwinder Sekhon – has left to join UBS.

From October, they will respectively assume the roles of global head of FX e-trading, head of FX e-trading quantitative analytics and head of FX e-trading infrastructure at UBS. They will report to Chris Vogelgesang and Arie Adler, co-heads of FX trading.

Vogelgesang tells theweeklyFiX: “Electronic trading is a vital component for growing our FX franchise. With a view to enhancing our overall FX business, we are pleased to announce that an electronic trading team will be joining us from Barclays Capital to build out our e-trading platform to the forefront of the industry, and to provide a strong complementary offering to our leading FX voice-trading capabilities.”

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