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BarCap star trader quits
Todd Edgar’s arrival at BarCap from JP Morgan in 2009, along with his highly-prized team, was seen as a coup for the bank. But just two years later he and the team have decided to quit to set up their own hedge fund.
The 39-year-old trader, known for his nerves of steel and Midas touch when it comes to market calls – is understood to have been handed a £30m cash and shares incentive scheme to join BarCap.
He is said to have earned JP Morgan more than £150m in gold trading in the months before his departure, taking a large position at the bottom of the market and sticking with it as it climbed to record highs.
Industry experts warn more top bankers could quit to go it alone as regulation becomes tighter.