Maybe Jerry Del Missier has run out of money. Maybe he’s bored. Maybe he’s had long enough to recuperate from his previous role. Either way, the former COO Of Barclays is back. And he’s not displaying the accoutrements of success.
Financial News reports that Canadian-born Del Missier is opening a new private equity-style company to invest in, ‘existing financial institutions or high growth entrants.’ Del Missier earned $22.3m for 2010 and received $14m in deferred bonuses even after leaving Barclays in June 2012.
However, there’s little sign of Del Missier’s Barclays wealth in the location of his new venture, Copper Street Capital. Copper Street is currently being run from serviced offices in Maidenhead, an inauspicious suburb of London near Heathrow Airport. Its neighbours include a taxi firm and a chilled food distributor. This hasn’t dissuaded Joseph McNeila, a former MD from Goldman Sachs, from getting in at the start as CIO.
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Goldman Sachs is going into a new market. It wants to own and trade stocks in Saudi Arabia and has applied for a licence to do so. Goldman already has an office in Riyadh. Now may be the time to send in your CV.
Out of J.P. Morgan (Bloomberg)
Credit Suisse hired Daniel McNeill of J.P. Morgan to lead its equity-derivatives unit for the Americas.
Pier Luigi Colizzi, Barclays’ head of banking in Italy, is replacing Matthew Ponsonby as head of M&A in Europe, the Middle East and Africa at the bank.
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Citigroup hired John Lowrey to be global head of cash electronic execution as the bank invests in a stock-trading business ranked last by revenue among the five largest Wall Street firms.
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