Barclays Spent $50 Million to Poach This Trader. And Now He's Leaving
The details for why he's leaving the bank are unclear, but Barclay's can't be too pleased by this move.
Edgar first came to BarCap in 2009 after he and his team were poached from JPMorgan. BarCap reportedly paid Edgar and his team a $50 million cash and shares package.
This caused JPMorgan to complain to the Financial Services Authority.
Not surprisingly, JPMorgan was not happy about the Edgar being poached. One reason being that in 2008 Edgar reportedly brought in $100 million profit for the bank single-handedly.
Edgar, who is said to be an avid surfer, is used to riding the unpredictable gold market, which paid off for him big time while at JPMorgan.
Trader Monthly—a lifestyle magazine that closed in 2009—awarded Edgar with the "Commodities Trade of the Year" in 2007. He was given the award for a "Fort Knox-sized heist" on the gold market when he was a managing director at JPMorgan.
He was only 35 at the time, but he apparently has guts.
“To have the cojones to stick with a trade like that in a year when everyone is selling is unbelievable,” said a fellow commodities trader.
Edgar studied at the University of New South Wales.
His favorite surfing spot is in the Mentawai Islands west of Sumatra, Indonesia.
This story originally appeared on Business Insider
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