(Bloomberg) -- Barclays Plc’ Carl Scott, who leads the firm’s rates trading desks across Europe, the Middle East and Africa, has decided to leave the bank, according to people familiar with the matter. 

His departure comes just weeks after Barclays identified European rates as one of three key areas within trading where the bank lacks the scale it wants. The company has said it would seek to gain additional market share in that business, along with equity derivatives and securitized products trading, in the hopes of boosting revenue by £500 million ($631 million) by 2026. 

A representative for Barclays declined to comment, while Scott didn’t immediately respond to an email seeking comment.

Barclays has yet to appoint a successor for Scott, who is departing the British bank less than two years after he rejoined it from Citadel Securities, where he had been head of global fixed income. He had previously also worked for Citigroup Inc. 

For now, executives that previously reported to Scott — including Ankur Aneja, Guy Winkworth and Hamza Hoummady — will report to Michael Lublinsky, the bank’s global head of macro trading, according to one of the people familiar with the matter, who asked not to be identified discussing non-public information. Aneja leads the bank’s euro rates business, while Winkworth and Hoummady lead the GBP rates and non-linear rates businesses, respectively. 

Barclays commands about 7.5% of the market within European rates, according to a presentation to investors last month. Executives at the time acknowledged that it lost some market share last year, citing “idiosyncratic reasons.”

“Traditionally, these businesses have been very large for us,” Adeel Khan, who was named sole head of the bank’s global markets division last month, told investors at the time. “We’ve already allocated them the capital they need to regain their lost market shares.”

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