BarCap shakes up in-house team after job cuts
Barclays Capital general counsel for UK and Europe Jake Scrivens is set to step down from his post to take up a financial role with the investment bank. Scrivens has been appointed as head of the newly-created structured credit portfolio. He will take up the position from the beginning of September, with Asia-Pacific legal head Magnus Spencer moving into the role of UK and Europe GC.In his new post, Scrivens will lead a trading team focusing on products in BarCap's non-continuing credit business lines. He will work with existing product groups to enhance risk management processes.
August 18, 2008 at 08:34 AM
2 minute read
Barclays Capital general counsel for UK and Europe Jake Scrivens is set to step down from his post to take up a financial role with the investment bank.
Scrivens has been appointed as head of the newly-created structured credit portfolio. He will take up the position from the beginning of September, with Asia-Pacific legal head Magnus Spencer moving into the role of UK and Europe GC.
In his new post, Scrivens will lead a trading team focusing on products in BarCap's non-continuing credit business lines. He will work with existing product groups to enhance risk management processes.
The changes are part of a reshuffle at BarCap which will all see also Chris Flosi, Spencer's current deputy, step up to become head of the Asia-Pacific legal team.
The new appointments follow a number of job cuts at the investment bank last month, with around 100 members of staff made redundant across a number of departments. It is thought that the redundancies included one senior lawyer in the European leveraged finance team.
The affect of the credit crunch has resulted in a number of redundancies across the financial sector, with Japanese bank Nomura also making legal job cuts in London, losing two members of its 90-strong team.
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