The great term premium comeback

Hamza Hoummady is a Managing Director and Head of European Rates Trading, based in London. Hamza brings over 15 years’ experience in Macro trading and quants, with a focus on the non-linear franchise. Hamza rejoined Barclays in December 2022 after 􀄤ve years at Goldman Sachs where he was Managing Director, Global Head of Macro Strats, focusing on factor risk and relative value strategies in Macro. Prior to that he was at Barclays where he started his career, most recently as Head of European Rates Options Trading. Hamza holds an MSc in Mathematics from École Centrale Paris and a DEA in Statistics from Université Paris VII.

Samy Ben Aoun is Managing Director and Head of Rates Trading for Continental Europe, based in Paris. He brings over 15 years of experience in macro trading and rejoined Barclays in May 2025 after 19 years at Crédit Agricole, where he served as Managing Director and Global Head of Non-Linear Rates Trading. Samy holds an MSc in Civil Engineering from École des Mines de Paris and a DEA in Probability and Finance from Université Paris VI.