BarCap builds credit team with two new hires

Barclays Capital, the investment banking arm of the UK’s Barclays Bank, has boosted its presence in the European credit derivatives business through two new hires.

The bank recruited Olivier Staub from Bear Stearns as a director and senior single-name credit derivatives trader in London. Staub will report to Andrew Whittle, BarCap’s European head of credit derivatives.

BarCap has also hired Heikki Monkkonen from Lehman Brothers. Monkkonen will work as a director and senior synthetic collateralised debt obligation structurer, also reporting to Whittle. His expertise lies in credit derivatives modelling.

Whittle said the hires were part of an ongoing effort to ramp-up BarCap’s credit derivatives capability. “We will be continuing to build the team next year to support the growth in our risk management business in Europe,” he said.

The new hires will take BarCap’s headcount of credit derivatives traders and structurers to eight.