Amit Mehrotra, head of US equities trading at Barclays, is set to leave the debt-focused investment bank. Barclays has been shaping and strengthening its electronic trading and equities business with hires in recent months — several of them from rivals.
Mehrotra is regarded as one of the longest-serving veterans in the sector, and has led that business at the UK’s third-largest lender since 2008. According to financial recruitment outlet eFinancialCareers, Mehrotra did not return calls seeking comment and his plans are unclear.
Mehrotra is one of the most high-profile names in the equity derivatives market, with the business he led posting a solid performance compared to the same period a year before. Barclays’ gains easily outpaced those of European competitors Credit Suisse, Deutsche Bank, and UBS.
How the OKEx Saga Reveals the Need for Decentralized ExchangesGo to article >>
He has held a string of senior structuring and sales roles at a range of Wall Street banks, including heading equity and interest-rate derivatives at Lehman Brothers in 1996.
Amit is not the first London-based senior executive to leave Barclays in the space of a few months as the UK bank continues a fresh hiring spree designed to strengthen its equities franchise. Finance Magnates reported earlier this month that Barclays has brought in a team of equity analysts from Societe Generale SA, six individuals in total, in a bid to help rekindle the group’s stocks unit.
The timing of the new hires can also be attributed to the MiFID II regulations which came into effect in January this year. The passage of the new regulations is seen as the direct impetus for the reshuffling, which is ongoing.