Britain's Barclays Capital bought bankrupt Lehman Brothers Holdings Inc.'s North American investment bank and brokerage assets on Sept. 22 for $1.54 billion. Now it
named a transitional leadership team with two Lehman execs holding top roles. Hugh McGee III, who worked as Lehman's global head of investment banking and will lead Barclays' investment banking and leveraged finance businesses, according to The New York Times, and Gerald Donini, who was global head of equities at Lehman, will head that business at Barclays.
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The report also said the new BarCap management team will include:
Guglielmo Sartori di Borgoricco, who will lead the combined
institutional salesforce; Larry Kantor, research; Benoit de Vitry,
commodities and emerging markets; Ivan Ritossa, foreign exchange and
primve services; Eric Bommensath, fixed income; and Tom Kalaris,
private investment management (as chief executive of Barclays Wealth
business).
Even with this purchase, Barclays still has expansion on its mind. It
plans to hire 1,500 staff
over the next few years at its new technology center in Singapore, the
Straits Times reported. The paper said the headcount is an addition to
the 2,500 that Barclays currently has for its investment banking and
wealth management businesses in Singapore.
Off the beaten track, Barclays gave a shout-out to Brooklyn, saying
it remains committed to a proposed basketball arena at the Atlantic Yards despite an unfavorable court ruling on the $950 million project. -
Baz HiralalSee the NYT report
Barclays to hire 1,500
Comments
What a great news.That's means we are now recovering from global crisis.