For senior bankers leaving Deutsche Bank, Barclays is becoming a destination of choice. The British bank has just hired yet another senior person from its German rival.
Jeremy Monnier, the former global head of FX structuring at Deutsche Bank, has just joined Barclays according to his LinkedIn profile. He joins the British bank as a managing director. Barclays didn't immediately respond to a request to comment on Monnier's job title.
Monnier's arrival comes after Barclays recruited Fabio Madar from Deutsche Bank in July. Madar was Deutsche's global head of FX coverage.
Alongside its Deutsche FX hires, Barclays has also recruited Andrew Tusa, Deutsche's former head of corporate broking, and Darren Campili, who previously ran Deutsche Bank's healthcare team. Barclays also hired Jeffrey Wasserman, a former strat on Deutsche Bank's fixed income team.
While Deutsche Bank is cutting costs and curtailing travel, Barclays remains in growth mode and has been busy hiring in managing directors from rivals. Many of those it's recruited from DB were let go by the German bank, meaning Barclays will have been absolved from the need to buy-out their previous bonuses. In August, Barclays hired a senior structurer from Goldman Sachs. Structurers are back in fashion as investors seek to hedge against a broader range of variables than before.
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