Five ABN Bankers Land At BarCap
After unsuccessfully trying to buy ABN last year, Barclays hires five deal pros from former target.
May 13, 2008
Although its efforts to acquire ABN AMRO last year were unsuccessful, Barclays managed another coup -- hiring five investment bankers from the Dutch financial institution.
The five professionals -- Frank Hancock, Jitesh Gadhia, Marc Holtzman, Simon Hargreaves and Jason Rynbeck -- will join the Barclays Capital business. All five will report to John Winter, head of European investment banking and debt capital markets.
Holtzman, Gadhia and Hargreaves will work in London, while Rynbeck will be based in Hong Kong. Hancock, previously ABN's head of Indian M&A, will work in Mumbai.
Hargreaves, formerly ABN's co-head of European M&A, was appointed head of M&A for Central and Eastern Europe, the Middle East and Africa by Amsterdam-based ABN in February.
Robert Diamond, chief executive of Barclays Capital, told New York Times DealBook today: “As we grew, we increasingly did advisory work so this is a natural result of the business we do. We don’t want to put out a sign saying we compete in global M&A. But trying to take on fees from advice in a world where there will probably be less leverage is not a bad idea.”
Barclays battled a buyer consortium composed of Royal Bank of Scotland, Fortis and Banco Santander last year for ABN. The buyout by the RBS-led group was named IDD's 2007 M&A and FIG Deal of the Year.
Meanwhile, last week, BarCap hired Dominic Rispoli from Lehman Brothers as head of US retail investment banking.
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