Barclays Trading Unit Said to Take 60 Employees in Spinout
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A Barclays Plc trading team that’s leaving this year to start a quantitative investment firm will take 60 bank employees with it, adding to Wall Street’s migration to the $2.8 trillion hedge-fund industry.
Olivier Durantel, Gregoire Schneider, Antoine Fillet and Maxime Fortin of the British bank’s nQuants unit will form the venture, according to a person with knowledge of the plans, who asked not to be identified because the information is private. The firm, which hasn’t yet been named, will use algorithms to trade mainly equities and other liquid securities globally.