Barclays Fortifies G10 FX Trading Team with Co-Head Appointments

<p>Barclays (NYSE: <a href="https://www.financemagnates.com/tag/barclays/" target="_blank" rel="follow">BCS</a>),
the multinational investment bank, has announced the appointment of Torsten
Schöneborn and Jerry Minier as the new Co-Heads of the G10 FX Trading unit.
With their extensive experience, Schöneborn and Minier will work closely with
technologists, trading, quant and sales teams to provide cutting-edge platforms
and infrastructure to Barclays' clients.</p><p>Barclays Boosts G10 FX
Trading Team</p><p>Barclays
has been making significant progress in expanding its Global Macro business to
achieve higher operational standards. In an effort to strengthen its foreign
<a href="https://www.financemagnates.com/terms/e/exchange/">exchange</a> (FX) business, the institution has appointed Schöneborn and Minier,
utilizing their years of industry experience. </p><p>Minier had
previously worked for Barclays as the Global Head of FX Options Trading, and
now his responsibilities are expanding. He has been with the company since the
beginning of the pandemic and has nearly two decades of experience in the
currency market. Previously, he worked for Goldman Sachs in various locations,
including London, Hong Kong, and New York.</p><p>Torsten is
joining Barclays from BNP Paribas, where he held the role of Global Head of
Electronic Platform and Global Head of Quant Prime Broking. He worked for
almost a decade at Deutsche Bank, among other roles as Global Co-Head of
Electronic <a href="https://www.financemagnates.com/terms/e/equities/">Equities</a> and Head of eFX Spot Quant Trading. In total, he has 15
years of experience.</p><p>Michael
Lublinsky, the Global Head of Macro, has commended these appointments, stating that
FX is one of Barclay's historic strengths.</p><p>"Torsten
and Jerry's expertise will help us execute our next set of priorities as we
continue to invest and build best in class platforms and solutions for our
clients," Lublinsky added.</p><p>Over
the past few months, Barclays has made several moves regarding its Global Macro
platform, and Torsten is the sixth senior hire since June 2022. During this time,
the company welcomed Carl Scott, the Head of EMEA Rates Trading, Igor Cashyn, the
Head of USD Inflation, and Guy Winkworth, the Head of Sterling Products &amp;
Euro Inflation.</p><blockquote><p lang="en" dir="ltr">We are pleased to welcome Torsten Schöneborn to Barclays, who will join Jerry Minier as Co-Heads of G10 FX Trading. Torsten and Jerry will work closely with colleagues to bring best in class execution capabilities &amp; risk solutions to clients across our FX franchise.</p>— Barclays Corporate &amp; Investment Bank (@BarclaysCIB) <a href="https://twitter.com/BarclaysCIB/status/1673253418419335168?ref_src=twsrc%5Etfw">June 26, 2023</a></blockquote><p>Recent Developments at
Barclays</p><p>Barclays
has shown a consistent effort to evolve and expand its operations. As part of
its recent advancements, the firm <a href="https://www.financemagnates.com/institutional-forex/barclays-bets-on-working-capital-finance-invests-3m-in-trade-ledger/" target="_blank" rel="follow">has invested £3 million in Trade Ledger</a>, a working
capital platform provider. This investment marks Barclays' commitment to
digitization and streamlining business lending.</p><p>However,
not all moves have been in the direction of growth. <a href="https://www.financemagnates.com/" target="_blank" rel="follow">Finance Magnates</a> has reported, that Barclays cut <a href="https://www.financemagnates.com/institutional-forex/barclays-joins-the-layoffs-bandwagon-cuts-100-jobs-in-investment-banking/" target="_blank" rel="follow">100 jobs</a>
in its investment banking group due to a slowdown in the industry. Bloomberg's
data indicates that the loss of jobs in several vital sectors has affected
almost 538,000 individuals since October 2022.</p><p>Despite
these layoffs, Barclays focuses on improving its services and financial
performance, even amidst a challenging financial year that <a href="https://www.financemagnates.com/institutional-forex/barclays-profit-falls-14-and-shares-on-track-for-worst-day-in-3-years/" target="_blank" rel="follow">saw a dip in profit of
14%</a>. According to the financial statement published in February, one of the
biggest UK lenders' profit was £7 billion in 2022.</p>

This article was written by Damian Chmiel at www.financemagnates.com.