Barrenjoey, the start-up investment bank that is snapping up talent from bigger rivals in Australia, is casting its net wider to meet its ambitious expansion plans.
The bank has hired Yeeshu Kumar as the founding principal of its fixed income derivatives trading business. Kumar is relocating to Sydney after spending the last three years working in Hong Kong as a director at HSBC, where he was a director in US dollar swaps and treasuries trading. Prior to that, Kumar spent seven years in London with UBS, according to his LinkedIn profile.
This follows the recruitment in March by Barrenjoey of Sean Larcombe as founding partner, head of trading and client execution from Citi in Hong Kong.
Since its foundation last September, Barrenjoey, which is partly owned by Barclays and Magellan financial group, has been hoovering up talent and now has grown to 220 staff.
Barenjoey’s aggressive expansion, along with hiring by Jarden Australia, has created a massive recruitment wave in the Australian sector, but the hires of Larcombe and Kumar show that the ripple has now reached Hong Kong.
Kumar’s old UBS links may have been a factor in his move. Barrenjoey has staffed up by poaching the Swiss bank’s top talent in Sydney, and in April it hired Matthew Grounds, the former head of UBS in Australia and its top rainmaker as executive co-chairman.
Barrenjoey operates four lines of businesses – corporate finance, equities, research and fixed income. On its website, the bank says it offers global coverage of fixed income through its partnership with Barclays, which in turn sees its investment in Barrenjoey as a way of rebuilding its presence across the Asia-Pacific region after it pulled back four years ago.
Barrenjoey did not return a request for comment.
Photo by Jason Leung on Unsplash
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