Barclays’ M&A business is in a period of flux. Yesterday, the bank announced the appointment of a new head of EMEA M&A – Pier Luigi Colizzi, its former head of banking in Italy. Colizzi will need to reassure his team, because people are leaving.
The latest high profile departure is Julian Vickers, Barclays’ London-based global co-head of natural resources investment banking. The FCA Register shows that Vickers left on the 15th of this month. Headhunters claim he’s off to set up his own advisory boutique, although we were unable to confirm this with Vickers himself.
Barclays didn’t immediately respond to a request for comment on the most recent departure, which follows those of Costas Kalisperas, former head of the retail group – who’s off to Moelis & Co., and Imran Ansari, former head of consumer retail, who’s off to Morgan Stanley.
Barclays is supposed to be boosting its M&A business under global head and an ‘intellectual half-marathon runner’, Gary Posternack. However, as we reported yesterday, the prognosis for the second quarter is not good and figures from Dealogic show Barclays stuck in 5th position for EMEA M&A in year-to-date 2015.
Dealogic’s figures also show Barclays ranking outside the top 10 in EMEA for natural resources and energy M&A. Maybe this is why Vickers has taken himself elsewhere? Vickers departure comes after he was promoted to global co-head in August 2015, a move which coincided with reports that Barclays risked losing a lot of its senior energy bankers and was doing its best to retain them.
It’s not all bad though, a spokesman for Barclays points out that the bank has made, “a number of hires in EMEA over the past 12 months,” to, “help accelerate the execution of our strategy.” That number turns out to be fairly high – Barclays has recruited a total of 31 senior bankers at managing director and director globally since May 2014. 16 of them are in the Americas, eight are in APAC and seven are in EMEA.