Barclays Bank has promoted Rudi Alexis, the head of EMEA corporate FX sales, to the rank of global head of FX distribution as the UK lender is shaking up its macro trading division, per an FXWeek report.
Rudi Alexis will take on the new global role as head of corporate FX and commodities distribution, which focuses on the trading of foreign exchange and rates products.
Mr. Alexis joined Barclays back in 2008 from Bank of America, where he had worked as head of FX sales Europe. He originally had a role of similar seniority and then was tasked with macro distribution in Europe, the Middle East and Africa.
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The move is designed to help drive the British bank’s global FX business, part of a broader shift by the lender in the FX space.
In his new capacity, Mr. Alexis will take an increased leadership role with responsibilities across FX sales, and with teams across the bank to deepen client relationships and accelerate the growth of Barclays FX business.
The promotion of Rudi comes as Barclays has recently fired about 100 investment banking jobs as the underperforming division forces the British lender to cut costs.
Barclays’ boss Jes Staley has pledged to reduce annual costs, with plans to axe 1,200 jobs and pull out of several Asian countries. Cutting staff expenses is seen as one way of meeting this objective following another set of disappointing results from the division in the third quarter.