Barclays Plc credit trader Brad Visokey left the bank this week to join billionaire hedge fund manager Michael Platt’s BlueCrest Capital Management.
Visokey, 39, will join the firm as a money manager focused on investment-grade and crossover debt, which has split high-grade and high-yield ratings, he confirmed in a telephone interview. He had been with the British bank since 2012 after spending eight years at Deutsche Bank AG.
Ed Orlebar, a spokesman for BlueCrest, and Mark Lane, a Barclays spokesman, declined to comment.
Visokey’s move adds to a wave of defections to investment firms that’s luring traders away from the largest Wall Street banks, where regulatory restrictions and cost reductions have forced compensation cuts and damped profitability.
BlueCrest was co-founded by Platt, who had been a proprietary trader at JPMorgan Chase & Co., and William Reeves in 2000. It has seen its assets decline by more than 66 percent to $12.5 billion from a peak of $37 billion in May 2013.
Visokey will be reunited with former Deutsche Bank peers currently at BlueCrest including John Silvetz, Stefano Galiani and Steve Waugh.