Discover your dream Career
For Recruiters

Barclays rehired a big hedge fund trader after some quite mediocre bonuses

Barclays may be cutting costs and talking about the importance of building a securitization business, but it's also scraped some coins together to rehire a trader who left for a hedge fund job less than a year ago.

Get Morning Coffee  in your inbox. Sign up here.

Ben Hutson, a former managing director on Barclays' London FX and short term interest rate desk has returned to the bank in the grander role of global head of FX forwards, based in New York.

Bloomberg reported Hutson's reappearance yesterday, but only on the Terminal. Hutson spent his interlude away from Barclays at hedge fund Garda Capital Partners, where he was a portfolio manager. 

Barclays declined to comment on who was doing Hutson's new job there before he resurfaced. There have been various changes to the bank's FX team in the past year: James Hasset, the former global co-head of emerging market macro trading, left last April; Torsten Schӧneborn and Jerry Minier were appointed as co-heads of G10 FX trading in June.

Barclays is cutting £188m ($239m) in compensation costs from the investment bank before 2026. Sources at the bank complained that bonuses in the New York macro team were disappointing for last year, with several people paid nothing despite reasonable performance. 

Hutson spent nearly 15 years at Barclays before leaving for the hedge fund and now coming back again. One headhunter says that returning to banking from hedge funds is this year's signature move. 

Have a confidential story, tip, or comment you’d like to share? Contact: sbutcher@efinancialcareers.com in the first instance. Whatsapp/Signal/Telegram also available (Telegram: @SarahButcher)

Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)

Photo by Piero Nigro on Unsplash

author-card-avatar
AUTHORSarah Butcher Global Editor

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.

Boost your career

Find thousands of job opportunities by signing up to eFinancialCareers today.
Recommended Articles
Recommended Jobs
Eka Finance
Macro Relative Value Research Analyst
Eka Finance
London, United Kingdom
Deutsche Bank
Trader - Vice President
Deutsche Bank
New York, United States
Paritas Recruitment - Data & Tech
Quantitative Researcher (Systematic Fund)
Paritas Recruitment - Data & Tech
London, United Kingdom

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.