Barclays Capital's derivatives division has moved from its New York headquarters at 222 Broadway to a disaster recovery building in Carlstadt, N.J. The division includes credit, interest rate and equity derivatives trading, research, structuring and sales.
The firm's Broadway location is about one block from the site where the Twin Towers collapsed. "The building is still standing, but obviously the whole area is unapproachable. We have no idea when we're going back," said an official at the firm. Barclays, U.S. Treasury trading, foreign exchange trading, equity finance operations and investment banking have also moved to the New Jersey location. A spokeswoman added that to the best of the firm's knowledge all 1,000 employees at the Broadway location were successfully evacuated. Phone lines at the New York office are down, but Barclays is trading normally in the rest of the world, she added.
