Deutsche Bank pinched Barclays' head of European rates sales

As we have reported here, Barclays has developed a habit of losing its top traders in London. Now it seems to be losing top salespeople too.

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Sources at the bank say that Noel Cochrane, a managing director and head of European rates sales, resigned this week. He's understood to be joining Deutsche Bank.

Barclays didn't respond to a request to comment and Deutsche Bank declined to say anything about Cochrane's destination.

He spent nearly 17 years at Barclays, having joined as analyst out of Cambridge University, and was promoted to managing director in 2021. 

In Cochrane's absence, it's thought that rising stars like Punitha Raja or James Hackett might take his role. Barclays lost James Armstrong and Nico Huss, its head of euro swaps trading and a member of his team, to Balyasny and Citi respectively in June. 

Deutsche Bank's own rates trading business is in need of some new people. Multiple junior rates traders on the DB desk left earlier this year. 

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