Barclays Capital is looking to add eight professionals to its 17-person collateralized debt obligation group. Kristofer Kraus, head of North American CDOs, said Barclays is looking to make the hires because business has grown faster than anticipated. He is currently in negotiations with two secondary CDO traders, who are expected to join within the next two months. He declined to name the potential new recruits.
The rest of the new hires will be mainly structurers and product managers. Kraus declined to specify a timeframe for the rest of the new hires, emphasizing he prefers to wait for the right candidates. He joined the firm from Credit Suisse last summer, bringing six of his team with him and doubling Barclays’ CDO group (SN, 7/25).