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Barclays Capital Exodus in Light of Volcker Rule

Star banker Todd Edgar and his team of nearly a dozen fellow commodities traders are to leave Barclays as part of a stream of cuts designed to shed overheads and put the UK bank on target to hit profit targets….

People close to the situation said it had become untenable for BarCap to employ prop traders in the light of US Dodd-Frank legislation barring banks from trading on their own account.

Read the full story at the Financial Times

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