Barclays adds three new hires in digital markets response

Barclays Bank Fleet Street

Barclays has appointed three new senior bankers as it tries to push forwards better use of digital technology in its corporate and investment bank.

The move comes as the bank tries to demonstrate moves to strengthen its investment bank, after activist investor Edward Bramson built up a stake in the lender.

Bramson is reportedly pushing for the bank to close the bulk of its trading activities in a bid to cut costs and boost returns for investors.

Read more: Bramson met with Old Mutual Global Investors to plot Barclays shake up

The bank has poached its new global head of electronic fixed income, commodities and currencies product and distribution, Mauricio Sada-Paz, from Bank of America Merrill Lynch.

Meanwhile, it has promoted Nas Al-Khudairi to oversee the electronic trading platform. Al-Khudairi's role will expand from responsibilities for equities alone to encompass the entire global markets electronic product offering across asset classes.

Brett Tejpaul has also been promoted to lead digital strategy for markets, alongside his existing markets client strategy role.

Investment banks across the world are rushing to keep their technology ahead of competitors, with many trying to update and streamline a patchwork of different trading, compliance and risk systems.

Tim Throsby, chief executive of Barclays International, described digitalisation of the markets business as "a key priority for us".

Read more: Activist Ed Bramson reportedly approaches investors over Barclays shake-up

Full story: Barclays adds three new hires in digital markets response: City A.M.

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