Barclays hires former UBS banker as global co-head of capital markets
LONDON, May 20 (Reuters) - Barclays (BARC.L), opens new tab has hired former UBS banker Marc Warm as its global co-head of capital markets, the British bank said on Tuesday, as it tries to expand its business to compete with Wall Street rivals.
Warm will be based in New York, and expands the co-head structure to three people, unusual in investment banking management, alongside Tom Johnson and Travis Barnes.
Warm's expertise is in credit, a traditional strength of Barclays, as it looks to grow in areas such as debt capital markets and leveraged finance.
Barclays has steadily overhauled its investment bank leadership in the last year as CEO C.S. Venkatakrishnan has increasingly funnelled resources to other areas such as its core domestic mortgage and retail banking businesses.
The bank has gained market share in capital markets activities such as equity fundraising in that time, but still lags U.S. peers such as JPMorgan (JPM.N), opens new tab and Goldman Sachs (GS.N), opens new tab.
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