BarCap boosts leveraged finance by 10

Barclays Capital, the investment banking arm of the UK bank, is continuing to build its leverage finance business with the addition of another 10 new staff. The team is expected to grow to over 100 by early next year.

Barclay's leveraged finance is headed up by Joe McGrath and Rick Van Zijl, who both joined as co-heads of US leveraged finance from Goldman Sachs five months ago. Since then, the pair have been putting a team in place.

Tim Broadbent joins as a managing director in bank loan syndication, after 22 years at JP Morgan, most recently serving as a managing director in leveraged loan syndication.

Dave Scudellari will become a managing director in leveraged finance. He formerly was a managing director in the Americas financing group at Goldman Sachs, where he has worked for the past 23 years.

Ed Kearns, Jack Melnikoff, and Chris Dowicz will come on board as directors in bank loan sales. Kearns joins after working at UBS as a senior salesperson on the loan sales, trading and syndication desk. Melnikoff joins from Goldman Sachs where he was a vice president in bank loan sales. Dowicz previously spent the past 10 years at CIBC World Markets, the investment banking arm of the Canadian Imperial Bank of Commerce, where he was a managing director in leveraged finance.

Ian Palmer joins as a director in bank loan syndicate from CIBC World Markets, where he was was an executive director in leveraged finance capital markets.

Faisal Hamdard will take on the role of an associate director in bank loan trading, after serving as a director for stressed and distressed loans at UBS.

All seven will report to Van Zijl. Scudellari will also report to McGrath.

Kevin Baer joins as a director and cash and credit default swaps trader. He will report to Christopher Yanney, who was hired in March as the director of US high-yield cash and credit default swaps trading.

Sarah Cole will become an associate director in high yield sales. She will report to McGrath. She previously was a vice president in high yield sales at Goldman Sachs.

George Brickfield joins from UBS, where he was an associate director and loan portfolio risk manager. He becomes an associate director in distressed debt trading. He will report to head of US distressed debt trading Drew Doscher, who joined two months ago also from UBS.

All 10 will be based in New York.

Van Zijl said the team now totals over 70 people. He added: "We have also been trading loans for two months and high-yield bonds for the past three weeks. We expect to begin executing transactions now that most of our team is in place."

Last month, Barclays Capital hired former UBS analysts Timothy Eng as a director in distressed debt trading and Rick Feinstein as a director in distressed debt sales, which falls under the umbrella of leveraged finance.