Published: June 24, 2009
Barclays Capital has hired 450 bankers to strengthen its equity business in Europe and Asia since the autumn, as it aims to become a top three player in Europe by 2011. It is 18th in European ECM league tables at present.
In May, Barclays appointed Sam Dean as managing director and co-head of global equity capital markets. Dean will be based in London reporting to both Larry Wieseneck, head of global finance and risk solutions in New York and John Winter, head of investment banking, EMEA in London.
The appointment followed the expansion of Barclays Capital’s investment banking and equities business globally and the firm’s hire of Jim Renwick as managing director, head of UK equity capital markets and corporate broking. Renwick joined from UBS after a 19-year career, only briefly interrupted by a stint at the boutique firm Bridgewell.
Barclays president Robert Diamond, and Jerry del Missier, president of Barclays Capital, plan to capitalise on the upheaval in financial markets to lure top bankers from competitors. Barclays bought Lehman’s North American operations out of bankruptcy for US$1.25bn in September. Nomura, Japans’ biggest brokerage, purchased Lehman’s units in Europe and Asia.
To expand in M&A, Barclays Capital may shift bankers to London from New York, according to a spokesperson. The firm has advised on European takeovers worth US$6.65bn this year, including the US$4.37bn sale of its own iShares unit to private equity firm CVC Capital Partners. Credit Suisse is the region’s top-ranked merger adviser, while Barclays is 21st. In the US, Barclays is fifth with US$92.2bn of deals.