Ex-Lehman people are leaving Barclays. Seven have gone so far, mostly in the U.S. and mostly in M&A. Who will go next? We suggested several names last week. Now we'd like to suggest some more. The men below are considered a flight risk on the grounds that they a) spent much of their careers at Lehman before switching to Barclays in 2008 and they b) work in M&A, which was Skip McGee's personal territory.
Trushar Morzaria, Barclays' CFO, said this morning that the bank is untroubled by the departures from its U.S. M&A business. Barclays has a "depth of talent" said Morzaria. However, he also cited U.S. M&A as one of the few bright spots in Barclays' second quarter earnings. On this basis alone we suspect that Morzaria would actually prefer it if the following people stay put.
1. William Bowmer
Who? An investment banking MD in Barclays' San Francisco office. Former head of global tech equity capital markets at Lehman Brothers.
2. Andrew Burch
Who? Head of healthcare M&A at Barclays. Previously head of healthcare M&A at Lehman, where he worked for four years before joining Barclays.
3. Wilco Faessen
Who? MD and head of Barclays' investment banking activities in the consumer health and nutrition sectors and alcoholic beverages and beverages sector. Spent five years at Lehman before moving to Barclays.
4. Maarten de Jong
Who? Barclays' head of healthcare M&A. Spent 8.5 years at Lehman before joining Barclays.
5. Kirk Kaludis
Who? Head of communications technology banking at Barclays. Previously spent eight years at Lehman.
6. Robert Peterson
Who? Global head of aerospace and defence investment banking at Barclays. Previously spent 12.5 years at Lehman Brothers.
7. George Patterson
Who? Barclays' co-head of global software, systems and solutions investment banking. Spent nearly four years as a VP and senior VP at Lehman before joining Barclays.
8. Stephen Wolitzer
Who? Barclays' executive chairman of M&A. Spent 31 years at Lehman before coming to Barclays.
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