Jai Patel left his position as an equity derivatives trader for Europe, the Middle East and Africa at Barclays Plc, two people with knowledge of the matter said.
Patel was a member of Barclays EMEA flow derivatives trading, part of the region’s equity derivatives trading desk, the people said, asking not to be identified as the move isn’t public. Flow derivatives are differentiated from other derivatives by their liquidity and are sometimes used to hedge against other products, according to one of the people.
Barclays has been cutting jobs at its investment bank and shrinking its fixed-income operation as the London-based company focuses on businesses such as consumer banking amid regulators’ demands for lenders to hold larger capital buffers.
In March, Imraan Moola, head of Citigroup Inc.’s equity derivatives trading for the EMEA region, stepped down.