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BarCap Hires Healthcare Team From Bear
Healthcare bankers are latest in string of BarCap personnel additions.
June 12, 2008
Barclays Capital announced today it recruited a team of New York-based healthcare bankers from Bear Stearns.
W. Patrick McMullan III was appointed as a managing director and head of healthcare coverage. Frank Williams, Ben Adams and Kevin Clarke were named managing directors. They will focus on the healthcare services, medical technology, pharmaceuticals and other industry sub-sectors.
"Growing our business and expanding our client footprint in the Americas is a top priority for us," said Jerry del Missier, BarCap president. "In the current market environment, we see a real opportunity to selectively add talent and increase our market share."
McMullan was a senior managing director and co-head of healthcare investment banking at Bear, which he joined in 2003. He was previously co-head of the global healthcare group at Credit Suisse and head of the healthcare team at Donaldson, Lufkin & Jenrette.
Adams was also a senior managing director at Bear and worked with McMullan at Credit Suisse and DLJ.
Williams was a senior managing director at Bear responsible for healthcare and pharmaceutical services relationships. He was also part of the M&A and leveraged finance groups.
Clarke joins BarCap from Abbott Laboratories' Kos Pharmaceuticals business, where he was chief financial officer. Prior to Kos, he spent 14 years at Bear, most recently as a senior managing director and head of healthcare M&A.
"This team firmly establishes our healthcare franchise and provides our clients access to some of the leading healthcare corporate finance and M&A advisory expertise on Wall Street," said Jim Glascott, BarCap's head of Americas investment banking and debt capital markets. "With the addition of these and other senior hires we've made in recent months, we're expanding the depth of our sector coverage and increasing the breadth of our corporate client relationships."
The Bear healthcare bankers are the latest in a string of personnel additions at BarCap. The firm recently recruited Dominic Rispoli from Lehman Brothers to head its retail investment banking efforts. Glascott was appointed to his current position last month, replacing Peter Goettler, who retired from the firm and industry for personal reasons.
In April, BarCap hired Archibald Cox Jr., who founded Morgan Stanley's international business and served as president and chief executive of First Boston, as chairman for the Americas. Del Missier relocated from London to New York in March.
In addition, BarCap plans to increase its global commodities headcount by 30% over the next two years.
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