BarCap lures forex structurer Siddiqi from Deutsche

Barclays Capital, the investment banking unit of Barclays, has lured Lutfey Siddiqi from Deutsche Bank to work as its global head of foreign exchange structuring.

Siddiqi will report to Ivan Ritossa, Barclays Capital’s global head of forex, and take responsibility for options structuring and new product development aimed at corporate and investor clients.

At Deutsche he worked as European head of global risk strategy, ex-Germany, and was a member of the German bank’s cross-divisional structured products group focusing on strategic corporate transactions.

“Our continuing hiring strategy will ensure that Barclays Capital is differentiated by the quality of its people,” claimed Ritossa. “Our commitment is evidenced by the fact that, contrary to industry trends, we are looking to expand our sales capacity.”

BarCap hired Kirby Hoeft as a director in foreign exchange distribution last month. Hoeft now works for the UK bank in New York, reporting to Eric Price, head of foreign exchange distribution for the Americas, who himself was recruited by BarCap this year.

Other senior forex hires during the past few months include: John Caccavale, BarCap’s head of foreign exchange trading in North America, and Despina Pantopoulou, the bank’s global head of forex options.