Barrenjoey, the investment banking start-up that is seizing the talents of Australia’s biggest rivals, is expanding its network to meet its ambitious expansion plans.
The bank hired Yeeshu Kumar as the founding director of its fixed income derivatives trading business. Kumar is moving to Sydney after spending the last three years working in Hong Kong as a director at HSBC, where he was director of US dollar swaps and treasury bill operations. Prior to that, Kumar spent seven years in London with UBS, according to his LinkedIn profile.
This follows Barrenjoey’s recruitment in March of Sean Larcombe as founding partner, responsible for trading and client execution of Citi in Hong Kong.
Since its creation last September, Barrenjoey, partly owned by the financial group Barclays and Magellan, has been full of talent and now has 220 employees.
Barenjoey’s aggressive expansion, along with hiring by Jarden Australia, has created a massive hiring wave in the Australian sector, but hires from Larcombe and Kumar show the ripple has now reached Hong Kong.
Kumar’s former UBS ties may have been a factor in his move. Barrenjoey has poaching the best talents of the Swiss bank in Sydney, and in April he hired Matthew Grounds, the former head of UBS in Australia and its main rainmaker as executive co-chair.
Barrenjoey operates four lines of business: corporate finance, equity, research and fixed income. On its website, the bank says it offers global fixed income coverage through its partnership with Barclays, which in turn sees its investment in Barrenjoey as a way to rebuild its presence in the Asia-Pacific region after its withdrawal four years ago.
Barrenjoey did not return a request for comment.
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