Barclays global head of securitized products just resigned

efinancialcareers.com:

Scott Eichel, the global head of securitized products at Barclays, is leaving his job.

Get Morning Coffee  ☕  in your inbox. Sign up here.

New York-based Eichel is understood to have handed in his notice today. It's understood that he's leaving for personal reasons to take time out. The exit is understood to have been amicable. Barclays doesn't announce its bonuses until mid-February. 

Eichel joined Barclays in 2018 after three years out of the market. He previously spent six years at RBS Securities and nine years at Bear Stearns.

His exit comes as both securitized products are thriving and after Barclays identified securitized products as a growth area for the banklast February. 

Last March, Barclays hired David Garner as global head of securitized products bond trading, reporting to Eichel. Garner joined from Atlas SP partners, the Apollo vehicle that spun out of Credit Suisse. At the time, the bank said it aimed to become a top five securitized products trading desk in the US.  

Also speaking in March, Eichel said Garner would help the bank, «deliver on our next phase of growth.” Now he will have to deliver that without his former boss. Adeel Khan, the head of global markets business will be taking on Eichel's role until a replacement is found.

A spokesman for Barclays said: “After seven years of delivering solid progress against our strategy, Scott Eichel will be stepping down from his role as global head of securitised products and will be taking some much-deserved personal time off. We thank Scott for his contributions, and we wish him well in his future endeavours.”

Have a confidential story, tip, or comment you’d like to share? Contact: +44 7537 182250 (SMS, Whatsapp or voicemail). Telegram: @SarahButcher.  Cli