John (Jack) Malvey is the latest high-profile fixed-income strategist to bid adieu to Barclays Capital since its parent company acquired the North American operations of Lehman Brothers Holdings in September. Malvey, a 16-year Lehman veteran who led the top-ranked General Strategy squad on Institutional Investor’s All-America Fixed-Income Research Team from 1997 to 2007 before slipping to third place last year, was named Barclays’s head of total-return strategy shortly after the acquisition. He left the firm at the end of January by mutual agreement. His departure follows that of Ravi Mattu, Lehman’s global head of fixed-income and equity research, who exited in September to direct fixed-income strategy for Chicago-based hedge fund manager Citadel Investment Group.
Malvey, 57, attributes his departure to “overlap” between Barclays’s 60 fixed-income analysts and Lehman’s 165-strong team. Lauded for his work on the Lehman aggregate bond index, now owned by Barclays, he says he has made no post-Barclays plans yet, but his “most likely destination” is a job on the buy side.
