Barclays rejigs FIG coverage, appoints new debt origination heads

Wed Feb 20, 2013 12:18pm EST

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LONDON, Feb 20 (IFR) - Barclays has recast its EMEA investment banking operation to create an integrated team for financial institutions.

The bank said on Wednesday that Richard Boath and Ben Davey would lead the Financial Institutions Group (FIG) which combines investment banking, Global Finance FIG and Financial Solutions teams in the region.

Last week Barclays announced plans to shrink its investment banking operations outside the UK and the US. Global investment bank chief Rich Ricci told IFR that Barclays wants to "right-size the business to fit the opportunity".

But the bank is also positioning itself for potential activity in FIG mergers and acquisitions, equity capital raising refinancing and restructuring in the region.

Boath is a long-standing Barclays FIG financier and was co-head of global finance, EMEA, before this restructuring. Davey has run FIG advisory for the past three years at the UK lender. The two will report locally to John Langley, co-head of Global Finance, and Richard Taylor, head of investment banking for EMEA.

A spokesman at the bank confirmed the moves to IFR.

The London-based bank has also made changes to the leadership of the debt capital markets team. Charlie Berman and Mark Lewellen are now chairman of DCM EMEA and head of DCM EMEA, respectively.

Both are veterans of the business and will oversee all corporate, FIG and public sector DCM. Lewellen is a Barclays stalwart of 13 years and was head of DCM for corporates, including bonds and loans.

Berman has run the bank's public sector client coverage since 2011 and before that was co-head of fixed income capital markets at Citi.

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