Finance

Barclays hires Goldman’s Aytac Ilhan as equities push continues

Barclays has hired a senior strat from Goldman Sachs to head up its quantitative trading unit, the latest recruit at the UK lender as it builds out its equities business.

Aytac Ilhan has joined as head of quantitative investment strategies, a role that will hand her responsibility for automating trading projects within its corporate and investment bank, Barclays said in a statement.

She starts on 11 May and reports to Ashish Prabhudesai, Barclays’ global head of equity derivatives.

Ilhan was a managing director at Goldman Sachs and head of its systematic trading strategies desk as well as leading equity derivative strategists in Europe, the Middle East and Africa.

Strategists — or strats — are quantitative specialists that make up an increasingly large proportion of Goldman’s overall trading employees. Banks including Morgan Stanley and Goldman have battled for talent in this area in recent years.

READ Barclays expands prime broking as rivals pull back after Archegos

Barclays is expanding its equities unit as some rivals including Deutsche Bank and Credit Suisse have scaled back. Paul Leech, co-head of global equities at the UK lender, told Financial News in November that Barclays was expanding its prime services unit to capitalise as part of a broader build-out in equities. It has hired 18 staff from Credit Suisse, which effectively shuttered its prime services unit last year in the wake of a $5.5bn loss from the collapse of family office Archegos Capital, Bloomberg reported earlier in May.

To contact the author of this story with feedback or news, email Paul Clarke

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