Barclays has appointed Taylor Wright and Cathal Deasy as new co-heads of investment banking yesterday.
Wright and Deasy will jointly manage the business and will be tasked with “deepening client relationships and dealmaking efforts around the world”.
They will replace John Miller and Jean-Francois Astier and report to Paul Compton, global head of Barclays’ corporate & investment bank.
Compton said: “In their expanded and new roles, Taylor and Cathal will make a formidable team as we continue to progress building a resilient and diversified corporate and investment banking franchise.”
Last year Barclays’ investment banking division increased its profits by 46 per cent from 2020 and in the nine months to September 2022 profits have risen by nine per cent.
Deasy left Credit Suisse earlier this month after just three months as European head of investment banking. Deasy has previously been at Deutsche Bank and Merrill Lynch.
Barclays has joined other banks in poaching Credit Suisse’s top dealmakers as the embattled Swiss lender undergoes extensive restructuring.
Last week it was reported that Credit Suisse is considering cutting ten per cent of its investment banking staff.
The news comes just days after former top Treasury official John Kingman was confirmed as chair of Barclays’ ringfenced operation as part of a board refresh.
Kingman was at the heart of the response to the financial crisis in 2007-09, overseeing the bailouts. Kingman is also chair of insurer Legal & General, but will step down from the role at Tesco Bank.