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Barclays May Hire More Traders as CEO Embraces Risk

  • Firm may hire more traders as CEO embraces taking on more risk
  • Biggest banks booked $2 billon from distressed trades in 2016
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Barclays Plc is considering a push into riskier debt trading and a return to dealing in complex credit products in the U.S., according to a person familiar with the strategy.

Adeel Khan -- the trader who has driven rapid growth in credit trading over the past two years -- may hire more staff and allocate capital in the British bank’s small distressed business, which has historically lagged U.S. rivals, said the person, who asked not to be identified as the plans are in the early stages. Executives also want to expand in U.S. structured credit, especially collateralized debt obligations, or CDOs, building on its recent success with the instruments in Europe, the person said.