Barclays Capital plans to hire two interest-rate derivatives strategists for its relative value group in London. The strategists will translate the firm's macro view into trades and sell the ideas to the firm's traders and customers, according to John Maskell, director of European relative value strategy in London. He added typical strategies would include volatility plays and convergence trades.
"We don't want clever graduates, we need people with real nous, people who have made money trading," said Maskell. The hires would be an expansion to the department, which has a respected macro strategy group and wants to build its trading strategy group to allow it to market more ideas. He added that the firm wants to get the new hires on board as soon as possible.
