Barclays reshuffles management to oversee digital strategy

Barclays has made several promotions as it looks to implement its digital strategy across the markets business.

Barclays has made several key senior promotions within the corporate and investment banking unit with the aim to digitise its markets business.

The digital strategy is a priority for the bank and with advancements in technology, Barclays explained that it will be implemented to defend the business and to pursue new revenue opportunities. A spokesperson at Barclays confirmed the moves.

The UK-baed bank expanded the responsibilities of Nas Al-Khudairi, currently global head of electronic equities and head of cash equities for EMEA, to oversee the global markets electronic platforms.

Al-Khudairi joined Barclays in February after nearly 20 years with Credit Suisse leading several businesses and having held a number senior roles, including head of European cash equities and head of cross asset electronic trading.

“Nas will work in partnership with our electronic teams across asset classes to ensure we have a consistent approach with a strong commercial focus as we develop our capabilities and deliver our electronic platform strategy,” Guy Saidenberg, head of distribution & structuring at Barclays, commented.

“This will significantly enhance our client offering and enable us to benefit from best practice across algorithmic trading, pricing and technology.”

At the same time, Barclays has appointed Brett Tejpaul to lead the new digital strategy within the markets business, in addition to his current role as head of client strategy.

It also hired Mauricio Sada-Paz as the new global head of eFICC product and distribution as part of the execution of its digitisation strategy. Sada-Paz will join the markets team next week after eight years with Bank of America Merrill Lynch, most recently as global head of eFX sales and head of eFICC sales for EMEA.

Commenting on the implementation of the bank’s digital strategy, Tim Throsby, president and chief executive of Barclays, explained that the move is a key priority.

“This is an exciting time for markets as we implement our digital strategy and evolve our business to succeed in the future,” he said. “The digitalisation of the markets business is a key priority for us in order to provide the best service for our clients and deliver sustainable returns for our shareholders.”