LONDON, July 31 Barclays Plc has hired
Marc Chowrimootoo from Bank of American Merrill Lynch to
join its leveraged finance team in Europe, a person familiar
with the matter said.
It is one of several changes in Barclays' leveraged finance
and financial sponsors business in Europe, Middle East and
Africa (EMEA) - two areas that work closely together for deals
involving private equity firms.
Matt Grinnell is leaving as chairman of EMEA financial
sponsors and Andrew Richards is joining the financial sponsor
group as managing director from the same team in Asia, the
Barclays has built up its European high yield bond and
financial sponsor operations since 2008. It is shrinking its
investment bank to cut costs and improve profitability, although
most cuts are in fixed income areas and its advisory unit is
expected to be less affected.
Richards, who has worked for Barclays in Asia for three
years after more than a decade at Morgan Stanley, will
report to Karen Frank and Ken McGrath, appointed co-heads of
EMEA financial sponsors in November.
(Reporting by Steve Slater; Editing by David Holmes)