Barclays grabs Lehman's forex trading head

Barclays has hired John Caccavale, head of forex trading at Lehman Brothers in New York, to head trading for the Americas. He will report to Thomas Kalaris, Barclays’ chief executive of the Americas, based in New York. According to a recruiter, Caccavale left Lehman yesterday.

Caccavale’s move has been speculated about ever since Ivan Ritosa, who worked with Caccavale at Lehman in New York, joined Barclays in February as head of global forex in London. Adding fuel to the speculation was the move of Larry Baum, Barclays' head of forex trading for the Americas, to Bank of America, where he is now global head of spot, forward and proprietary trading in New York.

Eric Price, a forex salesman at Citibank in New York, joined Barclays as head of forex distribution for the Americas in early June and reports to John Stathis, head of sales and research for the Americas. Kirby Hoft, an institutional forex salesman at AIG in London, is also slated to join Barclays' forex Americas sales team in New York, but a spokeswoman for the bank said no date had yet been set.