Cantor Fitzgerald just made a huge hire in trading
The investment bank just hired Pascal Bandelier from Barclays, according to people familiar with the matter. Bandelier had been head of US equities execution at Barclays, according to his profile on Bloomberg.
The move will be announced formally on Friday, one of the people said.
A Barclays staffer who picked up Bandelier's office line said it wasn't possible to speak to him. Barclays and Cantor Fitzgerald did not return calls seeking comment in time for publication.
It's a big hire for Cantor Fitzgerald, which earlier this year named former Deutsche Bank co-chief executive Anshu Jain as president.
Cantor Fitzgerald is led by Howard Lutnick, and is the parent of Cantor Fitzgerald & Co, which is led by Shawn Matthews.
The appointment is the second big move in the stock trading business on Wall Street in quick succession. Matt Mallgrave, head of US equity flow trading at Credit Suisse, resigned last week, according to people familiar with the matter. He is set to join JPMorgan, the people said.
Big people moves on Wall Street often occur around this time of year. Bonuses have landed in bank accounts, freeing up people to move to new employers.