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Barclays' up-and-coming 28-year-old trader quit unexpectedly for something very different

Stefano Murdaca might have been expected to stay at Barclays. Since joining the British bank as a summer intern five years ago, sources say he'd distinguished himself and was seen as up-and-coming talent on the European government bond (EGB) trading desk.

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Not anymore. Murdaca has quit Barclays. He has also quit banking.

Instead of moving to a hedge fund or to one of the various banks hiring EGB traders, Murdaca has made the unexpected decision to join Dekko ISHO Venture Capital, a venture capital firm that describes itself as "the leading institutional investor of Bangladesh." 

He's joining in Q3 and will spend this summer "recharging". When in Bangladesh, Murdaca also plans to found a green start-up to focus on organic issues like waste recycling. He describes his time at Barclays as "amazing" but says a former university friend with links to Bangladesh approached him with the new opportunities and that he decided it was time for a "new adventure."

Murdaca's exit appears to have caused ripples on Barclays' EGB desk where there are complaints of poor bonuses last year. "It seems that opportunities in emerging markets are becoming more and more attractive relatively against traditional finance jobs," says one insider. 

A report last week from Deloitte said that 62% of Millennials and Gen Z have pressured their employers to take action on the climate. Barclays is a big financer of fossil fuels. 

Murdaca said mitigating climate change was a consideration in his decision to move to Bangladesh. "Waste management is a huge problem for the planet and I believe that it’s everyone’s responsibility to take an active part in fighting it, as well as fighting other major environmental issues such as climate change and more broadly moving to a more sustainable future for the generations to come." 

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Photo by Federico Fioravanti on Unsplash

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AUTHORSarah Butcher Global Editor

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