Barclays made a major hire amidst Nomura's macro woes

Nomura keeps losing people from its macro team, both in London and in Singapore. Barclays has benefited from one of the exits.

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The British bank has hired Mark Wade, a vice president (VP) and market maker from Nomura's short term interest rates (STIR) and XCCY (cross currency swap) desk. Wade, who did not respond to a request to comment for this article, is believed to be on gardening leave in anticipation of the next heat wave.

Nomura declined to comment and Barclays did not respond substantively to a query about Wade. Multiple sources confirmed Wade's imminent arrival there.

Wade's departure is the latest in a long line of Nomura exits since Hemish Shah joined from Deutsche Bank as head of European linear rates trading in January 2024. At least four people left towards the end of last year and Shah is thought to be under pressure to improve performance in 2026. Bevan Harris, an AUD rates trader in London, also left a few weeks ago.

Wade is thought to be one of London's top STIR traders and is credited with transforming Nomura's fortunes in sterling rates trading. It's not clear what he will be doing at Barclays, but the British bank has suffered its own string of departures and it's thought it could benefit from additional talent on its GBP swaps desk. 

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