Devereux and Hernandes take up FX roles at Barclays, London

In keeping with the recent strengthening of its global FX team, Barclays has hired Colin Devereux and Rafael Hernandes in London.

Devereux joins Barclays as a senior FX spot trader. He previously worked at Nomura Securities, where he was a proprietary trader based in New York. Earlier, he was head of spot FX at Bank of America Merrill Lynch.

Devereux has also held several other FX trading roles, most notably at BNP Paribas, Brown Brothers Harriman, Citi and UBS.

Hernandes joins Barclays as head of corporate FX distribution for southern Europe. He moves to the UK firm from Deutsche Bank, where he spent almost 10 years.

“These are both important hires for Barclays – Colin brings significant risk management experience to the table and his appointment shows our determination to increase risk appetite to support our clients,” said Fabio Madar, head of G10 FX trading and distribution, in a statement.

“Rafael’s appointment is also client-driven. Clients increasingly look to FX derivatives and investment products as answers to complex problems, and that is why we are building the number-one structuring team on the Street,” he added.

Clients increasingly look to FX derivatives and investment products as answers to complex problems, and that is why we are building the number-one structuring team on the Street

Fabio Madar, Barclays

The two recent hires follow several senior appointments in Barclays’ FX team globally.

Earlier this week, Barclays announced that Pritpal Gill was joining the bank to head its Singapore-based G10 and FX options team for Asia-Pacific.

In December, Barclays recruited Gaurav Malhotra as head of e-FX trading for the Asia-Pacific region at its Singapore office. 

In addition, the bank made the following hires in 2018: Alex Shterenberg as global head of G10 and emerging markets e-FX in November; Jeremy Monnier as senior FX structurer; Fabio Madar as global head of G10 FX trading and distribution in August; and Mauricio Sada-Paz as global head of e-Ficc (fixed-income, currencies and commodities) product and distribution in July.

A spokesperson for Barclays confirmed the appointments.