Barclays has brought on board a veteran managing director for its investment banking division in New York as it tries to increase revenues.
Kirk Meighan, who comes with almost 30 years of experience in the industry, has served as a managing director for over 25 years. Immediately before joining Barclays, he was a managing director at SunTrust Robinson Humphrey. Meighan’s also worked as a managing director of Bank of America and Deutsche Bank, where he spent five and nine years respectively. At Bank of America, he was responsible for strategic advisory, M&A, and capital markets. At Deutsche, he covered diversified industrials.
Meighan started his career with Salomon Brothers as a vice president in 1988 after completing MBA from Harvard Business School and moved to Lehman Brothers as a managing director in 1992 where he spent a little over nine years.
Barclays ranked sixth for U.S. investment banking revenues (IBD) and fifth for U.S. M&A revenue last year, according to Dealogic. The bank aims to be ranked fifth in the U.S. for all IBD and is engaged in long term hiring, with more than 24 MD level hires in the Americas in the past three years. In September 2017, Barclays’ CEO Tim Throsby said the firm was looking to boost revenues by increasing risk-weighted assets and leverage, as well as by hiring more traders. There’s also evidence of expansion in the investment banking division: in October Barclays hired Omar Faruqui in London to head UK M&A .
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