Ray Barretto joined Mitsubishi UFJ Financial Group (MUFG) as a director and head ABS trading. Based in New York, Barretto will report to Michael McCarthy, head of macro trading. He will be responsible for building out MUFG’s ABS trading platform with a specific focus on growing the esoteric business, and looking to increase the bank’s market share in the flow ABS space.

“Ray’s experience in trading consumer and esoteric asset-backed securities and establishing core relationships with top-tier asset managers, insurance companies, and hedge funds, will help support our ambitious FY 2022 business goals,” Michael McCarthy, head of macro trading at MUFG, said.

Barretto brings nearly two decades of financial services experience to MUFG. Prior to joining the bank, Barretto was a vice president in ABS secondary trading at Barclays. Barretto started his career in the global technology services unit at Lehman, giving him a unique understanding of the front- and back-office relationship.