Sep 23, 2022
Barclays Makes Slew of Equity Capital Markets Promotions
(Bloomberg) -- Barclays Plc has promoted several senior executives across its global equity capital markets business, even as some rivals look to trim ranks in a sluggish market for share sales.
The UK bank has named Erik Charbonneau and Rob Stowe to the newly created positions of co-heads of Americas ECM and made Lawrence Jamieson head of ECM for Europe, the Middle East and Africa, according to an internal memo seen by Bloomberg.
A representative for Barclays confirmed the contents of the memo.
Jamieson replaces Manuel Esteve, who departed for UBS AG earlier this year. Chris Madderson takes over from Jamieson as head of UK ECM.
Charbonneau, who has led Barclays’s ECM business in Canada since joining in 2017, will retain his responsibilities as co-head of health care ECM for the Americas, alongside Khaled Habayeb. Stowe will continue to lead the bank’s Americas power and industrials ECM team.
Barclays has also promoted Omar Alghanim, appointing him head of EMEA equity linked and financing solutions. That role was previously held by Tom Swerling before he became the global head of the same team last year.
Barclays is also looking to appoint a co-head of EMEA ECM with a focus on continental Europe next year, people familiar with the matter said.
The promotions come as some banks across Wall Street brace for job cuts, particularly on their ECM desks, which are grappling with a steep drop in fees as issuers shy away going public in volatile markets.
Read more: Wall Street Dealmaking Drop Has Bankers Feeling Job-Cut Heat
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