Sources have confirmed to theTRADEnews.com that Damian Bunce has left his role as head of equities electronic sales and trading for Barclays Capital in Europe.
No direct replacement for Bunce has been lined up according to sources and it is unclear where his next role will be.
Bunce’s former team at BarCap, the investment banking arm of the UK’s Barclays Bank, were focused on building out the firm’s global electronic trading offering in equities following the acquisition of Lehman Brothers’ north American investment banking and trading units shortly after its collapse in September 2008.
In May this year, Brian Fagen moved to Deutsche Bank as head of North American execution services sales, having quit his role at BarCap as global head of electronic trading distribution and co-head of liquid market sales trading. Fagen’s responsibilities were assumed by Bill White, who was appointed global head of equities electronic sales and trading at BarCap in December 2010.
As part of the expansion of BarCap’s electronic execution services, the bank intended to re-establish Lehman Brothers’ LX dark pool, which aggregated orders from clients and non-displayed trading partners.
BarCap declined to comment.