The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Foreign Exchange

FX people moves: Exodus from Barclays

Shortly after bonus time every bank expects a few staff to leave. But ‘a few’ doesn’t describe departures from Barclays over the last week or two – it’s a full-blown exodus according to market sources.

Manny Monahogios, BarCap’s head of US corporate FX sales in New York and recently made a managing director, has jumped ship, taking director Ben Gibson and at least three others, with him. Destination of the team is reckoned to be one of Morgan Stanley, RBS or UBS New York; MS is odds-on though. This is practically the one-year anniversary of a similar loss of staff at BarCap, New York. (People moves: BarCap loses in New York)


The haemorrhage in New York would be bad enough but London is also bleeding. Having lost Richard Longmore (possibly to Lloyds) a month ago and Frank Cahill (to HSBC) only this week, we hear of at least six other staff are on their toes. Guido Arslan, ex-Goldman Sachs, is the biggest name and there is some likelihood he will be teaming up again with Fabrizio Russo at Nomura. Other leavers include Paul Brandley in hedge fund sales, Lincoln Shepherd in FX real money sales, FX structurer John Bradley and Oxana Saunders in EM. The bank declined to comment.


One of the reasons cited for the departures was that the remuneration people took a gamble on how little they could pay and got it very wrong.



You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree