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Barclays' senior U.S. tech banker to leave for Evercore: FT
May 6, 2014 / 1:24 AM / 4 years ago

Barclays' senior U.S. tech banker to leave for Evercore: FT

(Reuters) - British bank Barclays Plc’s (BARC.L) senior technology banker in the United States will become the fifth top investment banker to leave the bank ahead of a strategic overhaul due this week, the Financial Times reported, citing people familiar with the matter.

A man rides a bicycle past a Barclays bank in London August 5, 2010. REUTERS/Suzanne Plunkett

Stuart Francis, head of technology banking business and a vice chairman at Barclays, will leave the lender and is planning to join investment bank Evercore Partners Inc (EVR.N), the newspaper quoted the people as saying.

Francis, who has worked with Smith Barney and Lehman Brothers, worked under Hugh ‘Skip’ McGee, the head of the bank’s U.S. business, who quit last week.

Barclays will announce on Thursday the creation of a bad bank portfolio of assets it deems non-core that it intends to sell or run down as part of a streamlining of its investment bank.

Paul Parker, Barclays’ head of mergers and acquisitions, is also expected to quit, according to some media reports.

Barclays’ U.S. head of communications, Michael O‘Looney, is also expected to leave, Financial Times reported on Monday.

Spokesmen at Barclays and Evercore could not be reached for comment outside regular U.S. business hours.

Reporting by Anannya Pramanick and Aman Shah in Bangalore; Editing by Eric Walsh

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