Skip to content
Subscriber Only

Barclays Taps Hedge Fund Founder to Revive U.S. Rates Trading

  • Chris Leonard founded $600 million Arcem Capital in 2012
  • Joins ranks of JPMorgan alumni under Jes Staley at Barclays

Barclays Plc named Chris Leonard to run U.S. rates trading, recruiting the founder of hedge fund Arcem Capital LLC to turn around the business that was blamed for a dragging down the investment bank’s results last quarter.

Leonard will join the bank as a managing director from Arcem, which he started in 2012 and raised more than $600 million for macro and fixed-income strategies, Barclays said in a statement. Leonard started his career at JPMorgan Chase & Co. in 1995, working as a proprietary trader before rising to run the interest rate swaps and options trading business. He co-founded Alphadyne Asset Management in 2005, a hedge fund that grew to $2 billion in assets.