British multinational investment bank, Barclays, announced on Thursday that it has appointed Fabio Madar as global head of G10 FX. Head of FX trading, James Hassett, is also moving into a newly created role in emerging markets.
Madar joins the British bank from Deutsche bank, ending a 13-year tenure. He will report to Michael Lublinsky, who is the global head of macro, and Guy Saidenberg, the global head of distribution and structuring.
Madar will be based in the bank’s London office. Here he will lead the global FX business across sales and trading.
With over 26 years of experience in global FX markets, Madar brings a wealth of knowledge to the bank. He’s worked across the world in London, New York, Paris, and Milan. At Deutsche Bank, he held the position of Global Head of FX Coverage.
While working at Deutsche Bank he also held positions such as Head of FX Sales for EMEA and Head of Southern Europe. Before this, Madar also worked at Lehman Brothers and Citibank.
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Commenting on the new appointment, Michael Lublinsky, Barclays’ Global Head of Macro, said: “This appointment builds on the momentum we’re seeing in our FX business. We have delivered solid results and the team continues to grow revenue and improve returns as we invest in people and technology to better serve clients.”
“Fabio’s appointment highlights the senior talent that Barclays is attracting and we’re confident that it puts us in an even stronger position to play a leading role in the market.”
Barclays shifts focus to emerging markets
Hassett has held the position of Head of FX trading for almost two years. Before this, he has been a Director at the investment bank and Head of FX Trading, Europe & Global Head Fx Forwards, and NDF.
His new role as Global Head of Emerging Markets Macro Trading will see him responsible for the EM FX and Rates businesses globally. The change in position is not completely out of the blue, as Hassett has been closely involved in developing the bank’s EM business since 2014.
Guy Saidenberg, Barclays’ Global Head of Distribution and Structuring, commented on the change: “EM is a key part of our Markets strategy and we have the opportunity to grow the franchise and make deeper connections with clients. James’ background and experience will enable us to provide our clients with the expertise and know-how that they need for these markets.”