BARCLAYS announced yesterday that Richard Taylor will be its new head of investment banking in Europe, Middle East & Africa (EMEA), filling a gap left by Tom King’s move to take on a global role in a shake-up last month.
Taylor, formerly at Bank of America Merrill Lynch, is currently head of the investment banking division for UK and Ireland, and will retain those responsibilities.
Matthew Ponsonby, currently co-head of mergers & acquisitions (M&A) advisory, will become chief operating officer for investment banking in EMEA and Mark Warham will become sole head of M&A, EMEA, the bank told staff in a memo. The changes will take effect next year.
The appointment comes after a strong showing for Barclays’ investment bank in Europe, in spite of the surprising exit of the group’s chief executive Bob Diamond over the Libor-rigging scandal earlier this year.
Many rivals had expected Barclays to lose clients in investment banking, an area bolstered by Diamond’s continued support. But the group’s traditional strength in debt capital markets is currently being matched by strong showing in UK M&A where it lies near the top of the league tables.
The bank has also won a number of corporate broking mandates since July, including TUI Travel, Rentokil, Telecity and Severn Trent.