Barclays shed three senior members of its distressed-debt business in London as part of global job cuts unleashed by Chief Executive Officer Jes Staley, according to four people familiar with the matter.
Bloomberg News reports that the departures include Josefa Llinares and Andrea Marangoni, who sourced soured assets for the bank, said the people, who asked not to be identified because the matter isn’t public. Analyst Miles Tadman also left, they said.
In the meantime, Bloomberg also reports that Morgan Stanley named Kevin Dunleavy, an executive who tends to some of the bank’s biggest securities clients, to run fixed-income sales as the firm looks to turn around its bond unit.
Jeff Pagano, who previously led U.S. fixed-income sales, will replace Dunleavy as head of senior relationship management, according to a memo to staff from Ted Pick, head of the broader trading division since October. Mark Lake, a company spokesman, confirmed the memo’s contents. Reuters reported the appointments earlier Monday.