Barclays unveils raft of changes to top of investment bank

Barclays promoted a raft of senior dealmakers and named new co-heads of its investment banking to lead the unit during a boom time for fees.

Jean-Francois ‘JF’ Astier and John Miller have been promoted to co-heads of investment banking and will lead a new management team within the division in a bid to “enhance growth”, Barclays said in a statement.

Astier, who is currently global head of capital markets and Miller, its global head of investment banking coverage, will report into Paul Compton, the UK lender’s global head of investment banking and co-president.

The moves mean a large proportion of the British bank’s most senior dealmakers are based out of New York. The UK lender is one of the few European investment banks to challenge the dominance of Wall Street players on their home turf, with the bank acquiring the US business of Lehman Brothers in the aftermath of the 2008 financial crisis.

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As part of the changes, Kristin Roth DeClark and Taylor Wright, previously head of equity capital markets in the Americas, were promoted to global co-heads of capital markets. Travis Barnes, who was global head of debt capital markets, has been named global head of Barclays’ financial sponsors group (FSG) and sustainable and impact banking.

Marco Valla was also promoted to global head of technology, media and telecommunications (TMT) as well as consumer and retail investment banking.

Investment banks have pulled in a record $60bn in investment banking fees in the first half of 2021, as M&A and ECM revenues both reached new highs. Barclays ranked seventh in the global investment bank revenue rankings, according to Dealogic, with $2.3bn — the same position it occupied in 2020.

The new Barclays investment banking management team will comprise 10 senior dealmakers. They are Travis Barnes, global head of financial sponsors group and sustainable and impact banking; Kristin Roth DeClark and Taylor Wright, global co-heads of capital markets; Tim Hartzell, global head of portfolio management; Richard Landgarten, global head of healthcare and real estate investment banking; John Lange, global head of industrials and energy investment banking; Tim Main, global head of financial institutions investment banking; Gary Posternack, global head of M&A; Marco Valla, global head of technology, media and telecoms, and consumer and retail investment banking.

“By working closely with the new team, and with our partners across the bank, we will enhance growth in our franchise, better serve our clients across sectors, geographies and products, and provide stronger returns for all of our stakeholders,” Astier and Miller said in a statement.

To contact the author of this story with feedback or news, email Paul Clarke

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