Barclays Shuffles Investment Bank Ranks, Hires for Industrials

Barclays Plc has filled several senior jobs at its investment bank as it works to stem attrition of US staff following leadership changes.

(Bloomberg) — Barclays Plc has filled several senior jobs at its investment bank as it works to stem attrition of US staff following leadership changes.

Alex Lynch was reappointed head of the global chairman’s group and will return to the investment banking management team, according to a memo seen by Bloomberg. The appointment comes weeks after John Miller, who was announced in February as Lynch’s replacement as the global chairman’s group head, left to join Jefferies Financial Group Inc.

Barclays has also hired managing director Yuri Shakhmin from Credit Suisse Group AG to bolster its takeover advice for industrial companies. Shakhmin will join Barclays’s Global Industrials Group in investment banking, it said in a separate memo.

Marie Freier is also joining the investment banking management team after her recent move from research, where she was global head of cross asset ESG research, according to a memo.

The London-based firm has hired roughly 20 in its investment bank since the beginning of the year. Still, a number of staff have left since Cathal Deasy and Taylor Wright were named global co-heads of the unit in January. Chief Executive Officer C.S. Venkatakrishnan addressed the exodus in a Bloomberg TV interview earlier this week.

Shakhmin has worked at Credit Suisse since 2021, most recently as the head of diversified industrials for Europe. Before that he spent 15 years at Rothschild & Co., according to his LinkedIn profile.

His move to Barclays is the latest loss for Credit Suisse following its rescue sale to local rival UBS Group AG in March. The Swiss firm is handing out retention bonuses to staff whom UBS sees as critical for the future of the combined bank, Bloomberg has reported.

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