Barclays Head U.S. Distressed-Debt Trader Benoist Said to Depart

Peter Benoist, the head of U.S. distressed-debt trading at Barclays Plc, left the bank, according to two people with knowledge of the move.

Benoist, who joined the British lender in 2010, departed this week, one of the people said, asking not to be identified as the information isn’t public. He led distressed loan trading at Barclays before running the U.S. distressed trading desk, the person said.

Mark Lane, a spokesman for the bank, declined to comment.

Benoist, 42, was previously at Deutsche Bank AG and Citigroup Inc., Financial Industry Regulatory Authority records show. His role will be split between Dan Crowley, the head of distressed trading at Barclays, and other traders, one of the people said.

The departure comes as some of the world’s biggest banks scale back some trading operations to comply with post-crisis regulations.

Earlier this year, Matt McQuade, who previously ran U.S. distressed-debt sales at Barclays, joined Trishield Capital Management.

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