Barclays has made a number of appointments within its investment banking division. By shoring up its investment banking business, the firm may be looking to boost its revenues in this area after its relative position in the global rankings remained the same as last year.
The bank’s global investment banking revenues, year-to-date, stood at US$2 billion, placing it sixth, the same as last year’s Dealogic rankings.
The firm’s global equity capital market year to date revenues stood at US$278 million, placing it 7th in Dealogic rankings, up from 12th in the same period last year. Barclays did not make it into the top ten M&A rankings this year to date.
The firm has appointed Derek McNulty as global co-head of chemicals, Derek Davidson as head of Americas commercial, residential and industrials services, Jared Itkowitz as head of Americas transportation and logistics, all within industrials investment banking. They will report to Spyros Svoronos, global head of industrials investment banking.
A fourth, Abhishek Singhal, has been named managing director within technology investment banking, focused on the payments sector. Singhal will report to Kristin Roth DeClark, global head of technology investment banking.
All four will be based out of New York.
Singhal joins Barclays from Citigroup where he was a managing director in the fintech investment banking division. Prior to joining Citigroup in 2018, he worked at Deutsche Bank on the TMT investment banking team.
McNulty joins Barclays from Citigroup, where he was head of North America chemicals. He joined Citigroup in July 2022, having previously been a managing director at Jefferies in New York since the beginning of 2019. From 2006 to 2019, McNulty was with Barclays, covering strategic and financial sponsor backed chemical companies, and at the time of his departure was the head of Americas chemicals.
Throughout his career, he has executed more than US$75 billion in strategic advisory mandates as well as equity and debt transactions for blue chip clients.
McNulty will work in partnership with Gabriel Gruber, global co-head of chemicals investment banking.
Davidson will join Barclays from Morgan Stanley, where he was a managing director based in New York leading coverage of companies providing commercial, residential and professional services.
Davidson joined Morgan Stanley in 2010, spending his first 11 years with the firm in the global services group and the last three years as part of the global industrials group. During his time at Morgan Stanley, he executed transactions for clients including Rollins, Iron Mountain, Allied Universal, and BGIS.
Itkowitz has been with Barclays for more than 15 years, and began his career in equity linked and hybrid solutions working in both New York and Hong Kong.
In 2014, he relocated back to New York and joined the industrials group where he has spent the past decade covering transportation and automotive clients on a range of strategic and capital raising assignments.
Spyros Svoronos, global head of industrials investment banking, said: “These appointments demonstrate our continued investment in our platform as we work to most effectively serve our clients with best-in-class strategic advice and execution.”
The appointments are part of a hiring spree at the bank, hiring Rob Patterson to lead data and information platforms coverage earlier this week.
San Francisco-based David King was appointed global head of technology M&A earlier this month. He reports to Kristin Roth DeClark, global head of technology investment banking.
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