Barclays Strengthens Industrials Banking with New Leadership Team

Author: Hannah Lewis Updated: 09-18-2024 01:58 PM

Barclays Strengthens Industrials Banking with New Leadership Team

Barclays has recently announced significant additions to its Industrials Investment Banking team. These new appointments include Derek McNulty, who takes on the role of Global Co-Head of Chemicals Investment Banking, along with Derek Davidson as Head of Americas Commercial, Residential and Industrials Services, and Jared Itkowitz as Head of Americas Transportation and Logistics. All three executives are based in New York, reporting directly to Spyros Svoronos, the Global Head of Industrials Investment Banking.

Meet the New Leaders of Barclays' Industrials Sector

Derek McNulty brings nearly 30 years of experience in investment banking to his new position at Barclays. Most recently, he held the title of Head of North America Chemicals at Citigroup, where he was since July 2022. Prior to that role, he spent several years at Jefferies as Managing Director. While McNulty’s previous tenure at Barclays spanned from 2006 to 2019, he was recognized for his expertise in strategic and financial advisory roles for major chemical companies during his time there. His impressive portfolio includes transaction advisory for industry giants such as Dow and Eastman Chemical. Within his new role, McNulty will collaborate closely with Gabriel Gruber, also appointed as Co-Head of Chemicals Investment Banking.

Derek Davidson's Transition from Morgan Stanley

Derek Davidson arrives at Barclays from Morgan Stanley, where he was a Managing Director responsible for a vast array of commercial, residential, and industrial services companies. Davidson’s journey at Morgan Stanley, which began in 2010, saw him transition through various roles, gaining extensive experience in strategic advisory and M&A negotiations. During his impressive career, he has worked with high-profile clients in the industry, executing significant transactions for firms like Rollins and Iron Mountain. Davidson's insights and experience will undoubtedly bolster Barclays' service offerings in the industrial sector.

A Strong Foundation in Investment Banking

Jared Itkowitz's long-standing relationship with Barclays spans over 15 years, lending significant depth to the team. He initiated his career in Equity Linked & Hybrid Solutions, allowing him to gather invaluable experience in both New York and Hong Kong. Following a decade spent covering a range of transportation and automotive clients, Itkowitz has developed a reputation for leading high-stakes transactions. These include remarkable deals such as Rivian’s $12 billion IPO and General Motors’ $10 billion ASR. His extensive deal-making experience adds considerable strength to Barclays' leadership in the industrials market.

Commitment to Excellence in Client Service

Spyros Svoronos, Global Head of Industrials Investment Banking at Barclays, emphasized the importance of these appointments. "Our global Industrials franchise is a crucial component of our investment banking strategy," he stated. The team’s dedication to delivering exceptional strategic advice and execution reflects Barclays’ ongoing commitment to enhancing their offerings in the market.

Barclays: A Key Player in Important Transactions

The firm continues to play a pivotal role in significant transactions within the industrial landscape. Noteworthy examples include advising Koch on its substantial cash acquisition and serving as joint financial advisor for TDR Capital’s strategic moves in private equity. In addition, Barclays has acted as the lead left arranger for critical financing initiatives. Their impressive ranking, number five in global Industrials Leveraged Finance according to recent Dealogic data, showcases their undeniable strength in this field.

About Barclays Investment Bank

Barclays Investment Bank envisions itself as the premier UK-centered leader in global finance. It operates through a combination of diversified services, focusing on corporate, private, and wealth banking. The Investment Bank serves a variety of clients, including money managers and corporate entities, helping them navigate complexities in funding, investing, and strategic management. This comprehensive approach aims at fostering a better financial future for clients and communities alike, underpinning Barclays' commitment to driving growth.

Frequently Asked Questions

Who are the new leaders appointed at Barclays?

The new leaders are Derek McNulty, Derek Davidson, and Jared Itkowitz, each taking on pivotal roles within the Industrials Investment Banking team.

What roles do the new leaders hold?

Derek McNulty is the Global Co-Head of Chemicals Investment Banking, Derek Davidson is the Head of Americas Commercial, Residential and Industrials Services, and Jared Itkowitz is the Head of Americas Transportation and Logistics.

Where are the new leaders based?

All three new leaders are based in New York, reflecting the city's importance in global finance.

What is Barclays' vision for its Investment Bank?

Barclays aims to be the UK-centered leader in global finance, delivering diversified services to clients across various sectors.

How successful is Barclays in the Industrials sector?

Barclays has gained recognition for its significant contributions to major transactions, boasting a strong ranking in global Industrials Leveraged Finance, according to Dealogic data.

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Barclays Strengthens Industrials Banking with New Leadership Team