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Top salesman quits Macquarie for Barclays after six months

Remember Daniel Kaye? He's the ex-Credit Suisse trader who's been building out Macquarie's London cash equities business, often with hires from Credit Suisse. One of his recruits hasn't stuck around.

Jan Asboth, a former Credit Suisse electronic equities salesman who joined Macquarie in February 2018 has left again, according to his LinkedIn profile. Asboth has joined Barclays, where he will be head of program trading sales for Europe.

Asboth's moves marks at least the 10th major hire to Barclays' investment bank in Europe so far this year. The British bank has been building up its equities and electronic trading businesses after hiring Stephen Dainton as global head of equities in August 2017.

Like Kaye, Dainton also spent much of his career at Credit Suisse, suggesting the two men could find themselves competing for CS talent as they build their respective businesses. Before Asboth, Barclays hired Matthew Cousens, Credit Suisse's former co-head of algorithmic trading sales for Europe, the Middle East and Africa. Cousens will join in September as head of execution sales for EMEA.

Macquarie, meanwhile, has been known to hire from Deutsche as well as Credit Suisse, but appears to have a preference for Kaye's ex-employer. Headhunters say the Australian bank is willing to pay generously to bring staff on board. In Asboth's case, this doesn't seem to have been enough to impel him to stay long term. Earlier this month, Macquarie hired two senior researchers and a senior trader (not from Credit Suisse) for its U.S. cash equities trading business, suggesting it's growing in the U.S. as well.

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AUTHORSarah Butcher Global Editor
  • Mr
    Mr D
    23 July 2018

    It was indeed a short tenure..... Although longer than that of the star Financials analyst, Peter Lenardos, whose recruitment Macquarie press released with great fanfair in May - but who never actually turned up, having taken a CFO role elsewhere.

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