Barclays' managing directors are leaving before bonuses
Barclays will not announce its bonuses until February but some managing directors appear to leaving preemptively.
Angus Abbott, a London-based inflation trader and Christophe de Becdelievre, a Paris-based investment banker, have both left the bank.
Abbott has joined ExodusPoint, where he will be a portfolio manager. He spent the entirety of his career until now at Barclays, having joined in 2008 after graduating from Cambridge University, and was most recently head of sterling inflation trading.
De Becdelievre is setting up his own Paris-based boutique, Acorel, for which he will presumably be hiring. He'd worked for Barclays since 2015, and ran financial sponsor coverage for France.
Barclays declined to comment.
The departures follow cuts at Barclays late last year and precede a strategy revamp which is due to be announced in February. The bank wants to deliver 13%-14% returns in its investment bank, which is...ambitious.
Both Abbott and De Becdelievre were promoted to managing director at Barclays in 2020.
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