LONDON (Reuters) – Barclays (BARC.L) has appointed former Credit Suisse (CSGN.S) dealmaker Cather Dizzy as co-head of its investment banking division. Business and succession planning.
Deasy will work with Taylor Wright, co-head of global capital markets, the British bank said.
Venkatakrishnan, known internally as Venkat, said in a memo of the move seen by Reuters that the change was part of the bank’s “nurturing the next generation of leadership and thinking.”
Venkat said in November that he was being treated for a cancer known as non-Hodgkin’s lymphoma, adding that doctors were optimistic about his prognosis and that he would continue to be involved in the bank’s operations.
Deasy left Credit Suisse a few weeks ago. She comes just months after being promoted to Regional Co-Head of Investment Banking and Capital Markets (IBCM).
At Credit Suisse, he spent nine years at Deutsche Bank (DBKGn.DE) managing one of Europe’s largest client relationships, according to an internal Barclays memo.
A Barclays spokesman said current investment bank heads JF Astier and John Miller are in “active dialogue” with Barclays about their potential future roles.
Astier and Miller were promoted in 2021 to lead the investment bank as part of the new management team.
Barclays’ investment bank has posted strong results in recent quarters thanks to a boom in fixed income trading, which has traditionally been one of its strengths.
But recent results have seen Barclays agree to fine US regulators $361m for a ‘monstrous’ failure to oversell nearly $18bn worth of investment products. It has been ruined by last year’s trading failures.
Reported by Baranjot Kaur, Bangalore and Lawrence White, London. Edited by Sriraj Kalluvila and Bill Berkrot
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