Barclays Capital, the investment banking arm of the U.K. bank, has poached a team of seven
from Credit Suisse First Boston in New York to expand its collateralized-debt obligations business.
Kristofer Kraus joins as a managing director and head of North American CDOs, according to a spokeswoman for the firm. Stephen King joins as a director and head of North American asset backed security CDOs for cash and synthetics. He will report to Kraus.
CDOs are investment-grade securities backed by a pool of bonds, loans, and other assets. They are one of the fastest growing sections of the fixed income derivatives market.
Barclays Capital has also hired Edward Dale and Jasen Yang as associate directors,
Ryan Babcock and Rohit Chaku as associates and Hogan Chen as an analyst in the CDO group, the spokeswoman said.