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Barclays just made a major technology hire for its equities business

Barclays has got itself a senior technologist as it looks to reinvigorate its equities business.

Eric Anderson, the former global head of equities and prime technology at Nomura Securities, joined the British bank as a managing director in its New York office earlier this month. Anderson has over 18 years of experience and specializes in algorithmic trading, equities execution, low latency applications, and derivatives.

Anderson's arrival comes as Barclays invests in both cash equities and technology.  In July 2017, Barclays hired KCG's former head of European electronic trading and in February 2018 it recruited Naseer Al-Khudairi from Credit Suisse as head of global electronic equities.  CEO Jes Stanley says the bank has under-invested in technology and has promised to make amends.

Last year, Barclays hired no fewer than 40 managing directors for its investment bank last year. This is Anderson's second stint there. Almost a decade ago, he served as a director of global futures execution IT at Barclays Capital for less than a year. He shifted to Nomura in 2009.

Separately, UBS has also made a significant tech hire. The Swiss bank brought onboard Jennifer Tosi, a  technology veteran with 25 years' experience to work on the automation of research.

Tosi joins as an executive director to head automated intelligence and research technology. Before joining UBS, Tosi was the executive director of information technology at Morgan Stanley for almost eight years. Her earlier stints include working at Deutsche, McKinsey & Company, and IBM.

In January CEO Sergio Ermotti said UBS plans to invest in content and distribution suggesting it's doubling down on MiFID II by focusing on research.


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