Dominic Thwaites is the new kid on the Barclays Capital block. After 12 years of service with Lehman Brothers, Thwaites joins Barclays Capital, where he will function as director and head of Credit Trading IT. While Thwaites previous position at Lehman charged him with delivering comprehensive technology solutions for structured credit trading, futures execution, firm financing and repo trading, his new role will have an additional global reach, he explains.
Thwaites says that he looks forward to preparing the IT strategy of the business, especially in light of loosened purse strings and technology growth in 2004. "Part of bringing me in is to get IT up to speed," he explains.
Barclays Capital can expect Thwaites to focus on projects that have thus far been seen as "low hanging fruit." He says he will tackle business initiatives in five major areas: cross-asset growth, global business, credit- and cash-desk integration, trade workflow and ECN connectivity.
Thwaites explains that the recognition of technology's importance in business initiatives will enable him to accomplish his goals. "(The business executives) recognize that IT is a partnership thing, not a necessary evil," he explains. "They are very open to funding IT as necessary to serve them and very motivated to work with us."