Barclays Capital builds up global interest rate derivatives desk

Domenico Azzollini becomes managing director responsible for the global exotic interest rate options business as well as all European inflation and non-linear products. He will report to Alan Burnell, head of fixed-income derivatives and government bonds in Europe.

Reporting to Azzollini, Xiao Wu takes the title of associate director and exotics trader.

Both recruits join from rival bank JP Morgan Chase. Azzollini was at the US bank for eight years, most recently as European head of interest rate exotics. Wu spent five years at the bank, most recently trading exotic interest rate products.

The appointments follow that of Marangetty Karthikeyan, who joined the team in May, taking on responsibility for European non-exotic options.

“These appointments will help us to drive the growth in non-linear and structured interest rate products globally, which is an important sector of the fixed-income market for our clients,” said Eric Bommensath, global head of fixed-income derivatives and government bonds.