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Barclays Looks to “Digitise” Business

Barclays announced three senior appointments that it says will help to digitise its markets business.

Nas Al-Khudairi was promoted to oversee electronic trading platforms based in London, and as previously reported Mauricio Sada-Paz has joined the bank in London as global head of e-FICC product and distribution. Additionally, Brett Tejpaul has been promoted to lead digital strategy for Barclay’s markets business, alongside his existing markets client strategy role, in New York.

According to Barclays, the bank expects its digitisation strategy to be instrumental in defending its business and pursuing new revenue opportunities in the face of technological advances that are disrupting the status quo of the banking industry.

Part of the effort will involve having the electronic teams across rates, FX, credit and equities working closer together in order to drive efficiencies and, according to the bank, “create further client value”.

“This is an exciting time for markets as we implement our digital strategy and evolve our business to succeed in the future. The digitalisation of the markets business is a key priority for us in order to provide the best service for our clients and deliver sustainable returns for our shareholders,” says Tim Throsby, president of Barclays Bank and CEO of Barclays International.

Sada-Paz, the only new hire amongst these three appointments, will start at Barclays next week and joins from Bank of America Merrill Lynch, where he was EMEA head of e-FICC and global head of e-FX sales.

In his new role, Sada-Paz will be tasked with leading the execution of Barclay’s global e-FICC strategy across credit, FX and rates, and will work closely with his trading and technology partners to drive this strategy.

Prior to the eight years that he spent at BAML, Sada-Paz spent 12 years at Goldman Sachs, where he most recently worked in FX sales.

galen@profit-loss.com
@Galen_Stops
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Galen Stops

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