For all Barclays’ efforts to gain market share in U.S. investment banking, senior people continue to leave for competitors.
The latest departure is David Lauffer, a healthcare investment banker in New York. He left Barclays earlier this year and is now a managing director in healthcare investment banking at RBC Capital Markets. Lauffer worked at Barclays for nearly seven years, having joined from pharmaceuticals firm Novartis in 2010. Before that, he worked as a VP in healthcare investment banking at Merrill Lynch in New York.
Barclays’ healthcare team has been changing since it poached Deutsche Bank’s top bankers in the sector – Jason Haas and David Levin – in March last year. Shortly after in May, it hired Evan Matlin as a director in healthcare banking from Deutsche Bank.
RBC Capital Markets, meanwhile, has been hiring for healthcare. It brought in Vincent Lozada as a managing director from Credit Suisse in June, while healthcare banker Marcus Ricciani joined as an MD from Barclays in the same month.
Barclays continues to lose senior investment bankers on Wall Street to competitors. Paul Cugno and Robert Anderson, managing directors in leveraged finance, left for Jefferies in January, while Shiv Rao, a managing director in its investment bank in New York, joined Wells Fargo late last year. Brennan Spry, managing director in New York, joined J.P. Morgan’s investment bank in Atlanta earlier this month.
Recent Barclays departures are not restricted to its investment banking division, however. Ashish Saksena, a managing director in interest rates derivatives trading who had worked at the bank for more than 12 years, has just joined hedge fund BlueCrest Capital Management in Singapore.
And, as we reported this week, Johnny Wu, a managing director in its U.S. equities trading team is retiring in search of “new challenges that lie ahead”.