Barclays Capital is readying a major push for prime brokerage market share after boosting its own ranks in that space with nine new managing directors.
The firm has hired seven new managing directors in New York and London. Three of those joined the firm from Deutsche Bank: Thomas Chippas, named head of quantitative prime brokerage, David Gaynes, named head of prime services origination for multi-strategy hedge funds, and Thomas Spahr, named head of equities synthetic and international volatility distribution in the Americas.
Joining the three ex-Deutsche men on the equity finance team are Perry Jackson as head of synthetics product management and Thomas Squeri as head of prime services equity finance in the Americas. All five are based in New York.
BarCap has also added a pair of new faces to its prime services business. Terrence Burke, who will join the firm in November from Nomura International, will be head of futures distribution, based in London. BlueCrest Capital Management’s Trent Walker was named head of prime services risk, based in New York.
The firm also moved two existing employees to its prime brokerage. James Bergin was named head of foreign exchange prime brokerage distribution, and John Lovisolo head of prime services origination for credit. Both are based in New York.
“The increase in headcount is just one example of the significant growth that we have achieved in our business so far this year,” Munir Dauhajre, head of prime services distribution, said. The firm still has even bigger plans, however: To become one of the top three prime brokers in equity financing and futures clearing within three years.
Ajay Nagpal, BarCap’s head of prime services in New York, told Financial News that the firm will focus primarily on growing its business in Europe and Asia.