Barclays (NYSE: BCS) continues it’s push into the US market. After purchasing the assets of the now defunct Lehman Brothers last year, the firm has made a significant commitment to expanding in the US, and this week brings news that they have hired two senior bankers from Citigroup (NYSE: C) and Credit Suisse (NYSE: CS). With US headquarters based in midtown, the firm’s presence now has access to some of the world’s top banking talent and is making in roads each day.
This week, the firm has hired Reid Marsh from Citigroup, to serve as the chairman of its global industrials group, and Lawrence Hamdan of Credit Suisse to act as executive chairman of global mergers and acquisitions and the head of global industrials M.&A. Concurrently, John Miller has been named as the head of the global financial sponsors investment banking group and the head of the global industrials group as well.
Skip McGee, Barclays Capital’s head of global investment banking, said “Industrials clients represent some of the most active users of financing, risk management and advisory services.” He added “I am confident that under John, Reid, and Larry’s leadership our already strong franchise will be well positioned for further growth and expansion.”
Mr. Marsh was co-head of global industrials at Citigroup, a broad practice that encompassed aerospace, metals and transportation in addition to industrial companies. Prior to joining Citi, he worked at Salomon Smith Barney and Kidder Peabody.
Mr. Hamdan was vice chairman of global mergers and acquisitions at Credit Suisse, and previously was global co-head of the industrial and services group.
Barclays similarly announced that it has hired Ana Cabral-Gardner as a managing director in its Brazilian office. Prior to joining Barclays he worked at Goldman Sachs (NYSE: GS) and Credit Suisse.
The British banking giant has significant plans across the pond, and key to achieving those goals are having the right people in place. Although costly, acquiring these respected senior veterans from across the Street will go a long way towards satisfying that goal. The Banking regulators in Britain continue discussing a potential Glass Steagall type legislation that could break up Barclays from Barclays Capital Markets. If that ever comes to fruition is still unclear, but one thing is certain: Barclays is serious about expanding in the US, and stocking the firm with the key talent to do so.
