Away from the number-updating at HQ ahead of Thursday’s update, Barclays Capital was on the warpath on Tuesday, hiring a pride of corporate financiers from ABN Amro.
The announced team, led by Jitesh Gadhia, who joins Barcap in London as MD and global head of advisory, has a distinct Middle East/Asia focus. Marc Holtzman will be MD and VC of investment banking, based in London. Simon Hargreaves will be head of advisory for EMEA. Jason Rynbeck joins as head of advisory for Asia Pacific, based in Hong Kong, while Frank Hancock will be head of advisory for India, based in Mumbai.
Pinching key people, rather than overpaying for the whole bank and then having to tap shareholders with a rights issue, probably had its attractions for Barcap.
But FT Alphaville understands this raid will not stop with the five names so far announced.
A full team of up to 40 ABN corporate financiers is in Barcap’s sights.
There was no immediate response from ABN’s proud new owner, RBS.
