Adam Barrett, the head of institutional sales at Lloyd Banking Group has joined the exodus from banking to fintech. After more than 30 years in investment banking, at UBS, Goldman Sachs and Barclays, he’s just gone to peer to peer lending platform Invest & Fund.
Barrett left Lloyds in April, where he’d worked for four and a half years after joining from hedge fund Cairn Capital, where he worked as a consultant. Barrett has held some big sales jobs at investment banks across the City over the past 30 years, including head of sales for Northern Europe at Barclays investment bank for over eight years from 2003, and a managing director in derivative sales at Goldman Sachs, where he worked for close to five years.
He’s joining Invest & Fund as head of institutional lender origination, a role that taps into his expertise selling to financial institutions. Fintech firms are desperate for access to large institutional financial services organisations, and the right sales person with a background working for these firms can open doors to new clients.
Invest & Lend was set up in 2013 by Royal Bank of Scotland’s former head of gilt trading, David Turner, and Mike Hawkins, who was a consultant at KPMG. It has around 25 employees in London and Hastings.
Barrett was originally brought in to head up a newly merged rates and credit sales business at Lloyds Banking Group. Lloyds has been losing some senior sales staff this year including Glen Manning, a managing director within its mid-markets sales team who left for Rothschild in February. It also brought in Adrian Walkling as head of financial institutions sales in January from Silicon Valley firm Medallia.
It’s also been hiring for trading roles, having brought in John Keane, a former credit trader at RBS who worked at independent boutique Chalkhill Partners for the past two years as a senior trader earlier this month.
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