Barclays is shaking up its macro trading division, which focuses on the trading of foreign exchange and rates products.
The UK bank, which on Friday was reported to be considering cutting 20% of its investment bank staff, has promoted a couple of executives to new roles in macro distribution, or sales.
Anil Atluri was named head of distribution for foreign exchange and commodities, according to a memo that went out to staff on Friday. He will also take a new role as head of macro distribution, Americas.
He is replacing Jim Iorio, who is leaving the bank. He previously headed FX and commodities distribution.
Giovanni Mazzocchi will take responsibility for rates distribution, and will also become head of macro distribution in Europe, the Middle East and Africa.
Atluri and Mazzocchi both report to Kashif Zafar, head of macro distribution and co-head of global distribution.
In other changes, Rudi Alexis will take on a new global role as head of corporate FX and corporate commodities distribution.
A spokesman for the bank confirmed the changes.
Barclays’ macro business generated £485 million in the third quarter, or around $732 million. That was up 3%, which the bank put down to “higher income in rates and currency products, reflecting increased market volatility.”
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