Exclusive: Former Goldman Options Trader Tom Rae Lands at Barclays’ FX Unit
- Barclays Capital has on-boarded the former Goldman FX trader Tom Rae after nearly six years on its options desk.
Tom Rae has left Goldman Sachs after nearly six years to join Barclays Capital’s foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (FX) desk in London, Finance Magnates has learned. The move comes amidst a period of flux for the FX industry, namely in regard to London trading desks at several big name lenders that have seen a high uptick in the degree of personnel turnover over the past year.
Mr. Rae is the latest to be on the move in what has been a turbulent stretch for the financial services industry. Given waning profit margins and sagging revenues at lenders, many FX Desks FX Desks FX Desks are locations where forex traders and dealers with a financial institution, bank, or investment firm work. FX desks are commonly structured as a central point that is shared by more than one trader and given the nature of the sleepless 24-hour forex market.The majority of foreign exchange institutions possess FX desks to meet trading demands. For large-scale financial institutions, FX desks are generally swapped for a dealing facility.This is operated by market makers, also known as liq FX Desks are locations where forex traders and dealers with a financial institution, bank, or investment firm work. FX desks are commonly structured as a central point that is shared by more than one trader and given the nature of the sleepless 24-hour forex market.The majority of foreign exchange institutions possess FX desks to meet trading demands. For large-scale financial institutions, FX desks are generally swapped for a dealing facility.This is operated by market makers, also known as liq Read this Term and other units have been gutted or in some cases consolidated to help cut costs. Barclays to date has joined the likes of Deutsche Bank and Standard Chartered as having embarked on ambitious cost cutting strategies, principally in London.
In its newest move, Barclays secures Rae from Goldman Sachs, who joined the group back in 2008 in London. Since then he has been an active trader for its FX desk, having left the group earlier this year – during his tenure he focused mainly on G10 FX options.
In his new role at Barclays Capital however, he will step into a familiar role at its FX Options desk – he will be reporting to Barclays’ Paul Thirlwall, the group’s Global Head of FX Options, who also re-joined Barclays from HSBC in 2015 to take over the FX Options business.
Andrea Boland contributed to this article. Finance Magnates reached out to Barclays but it was unavailable for additional comment.
Tom Rae has left Goldman Sachs after nearly six years to join Barclays Capital’s foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (FX) desk in London, Finance Magnates has learned. The move comes amidst a period of flux for the FX industry, namely in regard to London trading desks at several big name lenders that have seen a high uptick in the degree of personnel turnover over the past year.
Mr. Rae is the latest to be on the move in what has been a turbulent stretch for the financial services industry. Given waning profit margins and sagging revenues at lenders, many FX Desks FX Desks FX Desks are locations where forex traders and dealers with a financial institution, bank, or investment firm work. FX desks are commonly structured as a central point that is shared by more than one trader and given the nature of the sleepless 24-hour forex market.The majority of foreign exchange institutions possess FX desks to meet trading demands. For large-scale financial institutions, FX desks are generally swapped for a dealing facility.This is operated by market makers, also known as liq FX Desks are locations where forex traders and dealers with a financial institution, bank, or investment firm work. FX desks are commonly structured as a central point that is shared by more than one trader and given the nature of the sleepless 24-hour forex market.The majority of foreign exchange institutions possess FX desks to meet trading demands. For large-scale financial institutions, FX desks are generally swapped for a dealing facility.This is operated by market makers, also known as liq Read this Term and other units have been gutted or in some cases consolidated to help cut costs. Barclays to date has joined the likes of Deutsche Bank and Standard Chartered as having embarked on ambitious cost cutting strategies, principally in London.
In its newest move, Barclays secures Rae from Goldman Sachs, who joined the group back in 2008 in London. Since then he has been an active trader for its FX desk, having left the group earlier this year – during his tenure he focused mainly on G10 FX options.
In his new role at Barclays Capital however, he will step into a familiar role at its FX Options desk – he will be reporting to Barclays’ Paul Thirlwall, the group’s Global Head of FX Options, who also re-joined Barclays from HSBC in 2015 to take over the FX Options business.
Andrea Boland contributed to this article. Finance Magnates reached out to Barclays but it was unavailable for additional comment.