Jul 20, 2021

Barclays names new heads of investment banking amid deal boom

Barclays has promoted two of its top investment bankers to new roles overseeing the advisory division, as the UK lender looks to capitalise on a run of better performance at the once-maligned unit. Jean-Francois Astier, who ran capital markets and M&A operations, and John Miller, former head of client coverage, have been named co-heads of investment banking, according to a statement on Tuesday. The pair will report to Paul Compton, global head of banking and president of Barclays' international operations, and will lead a new 11-person management team. Under chief executive Jes Staley, Barclays' investment bank has gone from being a controversial drag on earnings to the best-performing part of the group, helped by a surge in earnings from turbulent markets during the coronavirus pandemic. Barclays reports its second-quarter results next week, when it is expected to follow Wall Street peers and post a sharp increase in earnings from M&A advisory and capital markets.

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