Barclays poaches Citigroup's Chawla in latest insurance investment banker move

FILE PHOTO: The Barclays logo is seen in front of displayed stock graph in this illustration taken June 21, 2017. REUTERS/Dado Ruvic/Illustration

NEW YORK (Reuters) - Gautam Chawla is joining Barclays BARC.L from Citigroup Inc C.N, a statement from the British lender said on Friday, continuing the recent spate of job changes among senior financiers covering the insurance industry.

For Chawla, who starts his new role at the end of July, the move marks the end of a long career at Citi, where his most recent job titles were co-head of global insurance investment banking and co-head of the financial institutions group in North America.

Chawla’s title at Barclays will be vice chairman of the financial institutions group (FIG). He will be based in New York and report to Tim Main, global head of FIG banking, the statement added.

The announcement of Chawla’s impending move comes amid a recent slew of movement involving senior investment bankers who cover the insurance sector.

Citi announced May 18 it had hired Jawad Haider from Credit Suisse Group CSGN.S as the bank's new head of North America insurance investment banking.

Sources told Reuters on May 20 that Thomas Solomon, head of insurance investment banking in the Americas, was leaving Bank of America Corp BAC.N to become chief financial officer of a publicly listed insurance company. The next day, Randall & Quilter Investment Holdings RQIH.L announced his hiring.

Chawla is also the second senior investment banker to join Barclays in its FIG department in recent days: Alex Lynch was named May 29 as chairman of banking.

Reporting by David French; Editing by Steve Orlofsky