Barclays Expands Its Technology Investment Banking Division
Barclays has made an important announcement regarding its Technology Investment Banking division by appointing Abhishek Singhal as a Managing Director. Singhal will concentrate on the Payments sector, which plays a crucial role in this fast-evolving financial landscape. He will be based in New York and will report to Kristin Roth DeClark, the Global Head of Technology Investment Banking. This strategic appointment aims to enhance Barclays' capabilities in Payments coverage, an area led by Gary Katz, the Global Head of Payments Banking.
Abhishek Singhal's Impressive Career History
Before joining Barclays, Abhishek Singhal served as a Managing Director at Citigroup in their FinTech Investment Banking division. His vast experience also includes a significant period at Deutsche Bank, where he was part of the Telecommunications, Media, and Technology (TMT) Investment Banking team. Over his career, Singhal has been instrumental in several key transactions, demonstrating his strong expertise in the field.
Notable Transactions Under His Belt
Throughout his career, Mr. Singhal has participated in numerous high-profile transactions. He was the lead buyside M&A advisor for GTCR’s remarkable $18 billion acquisition of Worldpay and the carveout from FIS. Additionally, he acted as the exclusive sell-side M&A advisor for EVO Payments during its successful $4 billion sale to Global Payments. These accomplishments highlight his ability to navigate intricate financial environments.
Enhancing Barclays' Offerings
In a statement about the appointment, Kristin Roth DeClark highlighted the importance of the Technology Investment Banking division for Barclays. "We place a strong emphasis on this area, which is vital to our overall investment banking services and other industry sectors," she noted. She further stated that Abhishek’s extensive experience and industry insight will enable Barclays to provide even more comprehensive solutions to its clients.
Confidence in a Growing Team
Gary Katz also conveyed optimism about the expanding team's skills. He mentioned that Singhal's established relationships in the industry and proven success will empower Barclays to continue offering top-tier strategic advice that aligns with their clients' goals.
A Dedication to Top Talent
Bringing Mr. Singhal onboard is part of Barclays' ongoing strategy to invest in outstanding talent in the Technology Investment Banking sector. This year has already seen other notable strategic hires, including David King, who now serves as the Global Head of Technology M&A, and Rob Patterson, who has stepped into the role of Head of Data & Information Platforms Coverage.
Recent Developments in the Payments Sector
Barclays has played a key role in several significant transactions within the Payments industry. For instance, they acted as the Exclusive Financial Advisor to Nuvei Corporation during its $6.3 billion take-private transaction with Advent International, and they provided advisory services to American Express for its sale of Accertify to Accel-KKR. These transactions underscore Barclays' dedication to its clients and its commitment to the Payments field.
About Barclays Investment Bank
Barclays Investment Bank aims to be a UK-centric leader in global finance. It operates as a diversified institution offering a wide range of services, which include consumer, corporate, and private banking in the UK. The bank’s global investment banking capabilities assist clients—such as money managers and large corporations—in effectively managing their funding, investing, financing, and strategic risk management needs.
Frequently Asked Questions
What is Abhishek Singhal's new role at Barclays?
He has been appointed as a Managing Director in the Technology Investment Banking division, focusing on the Payments sector.
What previous experience does Mr. Singhal bring?
Before Barclays, he served as a Managing Director at Citigroup and worked at Deutsche Bank's TMT Investment Banking team.
What significant transactions has Singhal been involved in?
He played key roles in the $18 billion acquisition of Worldpay and EVO Payments' $4 billion sale to Global Payments.
How does this appointment align with Barclays' strategy?
This hire showcases Barclays' commitment to strengthening its Technology Investment Banking team and enhancing its market position.
What recent transactions has Barclays facilitated in the Payments sector?
Some notable transactions include advising Nuvei Corporation on its $6.3 billion take-private sale and American Express on the sale of Accertify.
