Barclays Plc (BARC), the U.K.’s second-biggest bank, appointed Adeel Khan and Drew Mogavero as co-heads of credit trading after former chief Fred Orlan departed for Jefferies Group LLC.
Khan has been running credit trading in Europe and emerging markets, while Mogavero focuses on high-yield and credit derivatives trading in the U.S., according to a Jan. 30 internal memo, the contents of which were confirmed by Brandon Ashcraft, a spokesman for the bank. Mogavero joined from Lehman Brothers Holdings Inc. in 2008 when Barclays bought the U.S. businesses of the bankrupt securities firm.
Orlan, Barclays’s previous credit-trading head, left this week to co-head the fixed-income business at Jefferies after William Jennings resigned from a similar post at the New York-bond dealer.
HSBC Holdings Plc is the largest U.K. bank by assets, according to data compiled by Bloomberg.
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