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UBS made a big new hire from Barclays for its US financing business

UBS isn't only hiring Barclays' investment bankers. It's just recruited Carlos Salcedo from Barclays too. 

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Salcedo is joining UBS as head of capital markets financing for the Americas, reporting to Dan Murphy, UBS's co-head of America's global markets distribution. It's a role that is understood to include, but isn't limited to, Delta One sales. 

UBS declined to comment.

Salcedo spent 14 years at Barclays after starting his career as an analyst at Lehman Brothers. 

As we have noted frequently, senior investment bankers have been leaving Barclays for UBS after the Swiss bank hired Marco Valla from Barclays as co-head of global banking. Valla was popular at Barclays and people there had hoped he'd be promoted into a similar role. Instead, Barclays hired Cathal Deasy from Credit Suisse instead. 

UBS is focused on growing its investment banking business in the Americas even as it cut costs after acquiring Credit Suisse.

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AUTHORSarah Butcher Global Editor
  • Ja
    James Wharf
    12 June 2024

    This is all about career progression opportunities left (not many) in a relatively frozen in size Investment Bank, which Venkat promised to deliver in Feb'24, as part of the new strategic plan.

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