Barclays Plc hired investment banker Pedro Costa as a vice chairman focused on technology, media and telecommunications mergers in the Americas, according to a statement reviewed by Bloomberg.
(Bloomberg) — Barclays Plc hired investment banker Pedro Costa as a vice chairman focused on technology, media and telecommunications mergers in the Americas, according to a statement reviewed by Bloomberg.
Costa will be based in New York reporting to Ihsan Essaid and Gary Posternack, who co-head the bank’s global mergers and acquisitions advisory business, according to the statement. He previously spent nearly 20 years at Morgan Stanley, where he most recently led technology M&A in the Americas, according to his LinkedIn profile.
Costa has worked on software and digital media deals worth more than $200 billion throughout his career including Magnet Forensics Inc.’s takeover by Thoma Bravo and ServiceChannel’s sale to Fortive, Barclays said.
“We are delighted to welcome Pedro to Barclays as we continue to expand our capabilities and add talent in high-growth industry sectors aligned to strategically important areas of focus, specifically TMT and M&A,” Posternack said in the statement.
A representative for Morgan Stanley declined to comment.
Barclays has been seeking to increase its market share advising large companies on mergers and stock and debt offerings as banks grapple with a global slowdown in dealmaking. The bank has put a particular emphasis on expanding coverage of the technology sector to win more business. Costa will be focused on providing strategic advice to big TMT companies.
London-based Barclays has hired more than 20 investment bankers to replenish its ranks after a slew of high-profile departures, including the loss of seven technology bankers to UBS Group AG this year. Last month in technology investment banking, it added Goldman Sachs Group Inc.’s Emma Taylor, Lee Counselman from Moelis & Co. and Carmen Chan.
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