Barclays just hired a female trader from BofA and made her an MD
We're in the dying light of the fourth quarter, but banks are still making strategic hires. And when they find the right person, they are promoting them too.
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Barclays is a case in point. It's just recruited Britaania Poppie, a director in XVA trading from Bank of America in New York. It's understood that she's been promoted to managing director in the process.
Bank of America and Barclays declined to comment on the move. It's understood that Poppie will be running the XVA trading desk at Barclays in New York following the departure of former desk head Spencer Jesner in July after two decades with the bank. She's expected to arrive in the new seat in early January.
Poppie spent two and a half years at Bank of America. It was her second stint there after she joined out of university in 2010 and left for Bridgewater, where she spent three years from 2019 before coming back to BofA again. She's understood to have reported to Elizabeth Nieves at BofA. Nieves will presumably be looking for a replacement.
Barclays' XVA trading business is run by London-based Carlo Cogliati. XVA traders manage banks' derivatives valuation adjustments, including debt valuation adjustments(DVA), credit valuation adjustments (CVA) and funding valuation adjustments (FVA) on an aggregate basis. They are internal-facing trading desks which are effectively a part of the risk management function and have beenaround for over a decade.
While it's unusual for banks to poach staff at this time of the year because they have to buy out bonuses, it's not unheard of. They are mostly likely to recruit late in Q4 when they a) have a strategic vacancy that can't wait until bonuses have been paid, b) have an
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