Barclays Stock Price, News & Analysis

Barclays has announced three key appointments in its Industrials Investment Banking team. Derek McNulty joins as Global Co-Head of Chemicals, Derek Davidson as Head of Americas Commercial, Residential and Industrials Services, and Jared Itkowitz as Head of Americas Transportation and Logistics. All three will be based in New York, reporting to Spyros Svoronos, Global Head of Industrials Investment Banking.

These strategic hires aim to strengthen Barclays' global Industrials franchise, which is a key component of their investment banking business. The bank has recently played significant roles in major transactions, including Koch's $3.6bn acquisition of IFCO and LATAM Airlines Group's $456mm IPO. Barclays currently ranks sixth globally in Industrials across all products, according to Dealogic data.

Barclays (BCS) has appointed Abhishek Singhal as a Managing Director within Technology Investment Banking, focusing on the Payments sector. Based in New York, Singhal will report to Kristin Roth DeClark, Global Head of Technology Investment Banking. This appointment strengthens Barclays' Payments coverage, led by Gary Katz.

Singhal joins from Citigroup, where he was a Managing Director in FinTech Investment Banking. His notable transactions include advising on GTCR's $18bn take-private of Worldpay and EVO Payments' $4bn sale to Global Payments. This hire follows recent strategic appointments, including David King as Global Head of Technology M&A and Rob Patterson as Head of Data & Information Platforms Coverage.

Barclays (BCS) has appointed Rob Patterson as Head of Data & Information Platforms Coverage within its Technology Investment Banking business. Patterson, with over 20 years of experience, joins from Morgan Stanley where he was a Managing Director. He will be based in New York, reporting to Kristin Roth DeClark, Global Head of Technology Investment Banking.

This appointment follows other strategic hires, including David King as Global Head of Technology M&A. Barclays has recently played key roles in significant transactions, such as advising on CVC's acquisition of Epicor and Nuvei 's $6.3bn sale to Advent International. The bank also led Arm's $4.9bn IPO in September 2023, the largest IPO Barclays has ever led.

Barclays Bank PLC has amended the Purchase Price for certain series of its outstanding exchange-traded notes (ETNs) in its ongoing cash tender offers and consent solicitations. The amended prices apply to the iPath® CBOE S&P 500 BuyWrite IndexSM ETN (BWVTF) and iPath® Bloomberg Platinum Subindex Total ReturnSM ETN (PGMFF). The new Purchase Prices reflect a premium to the Closing Indicative Note Value as of September 10, 2024.

Key points:

• BWVTF: New Purchase Price $115.00 (previous Closing Indicative Value $108.77)
• PGMFF: New Purchase Price $22.00 (previous Closing Indicative Value $18.59)
• Expiration Date remains September 25, 2024
• Payment Date is October 2, 2024, unless extended or terminated early

Barclays has appointed Cathy Leonhardt as Global Head of Retail within Investment Banking. With nearly 30 years of experience, Leonhardt brings deep client relationships and industry knowledge to strengthen Barclays' Consumer and Retail Group. Based in New York, she will report to Lowell Strug, Global Head of Consumer and Retail Group.

Leonhardt joins from Solomon Partners, where she was Partner and Co-Head of Consumer Retail Investment Banking. Her extensive experience includes advising on major transactions such as PVH's sale of Warners and Heritage Brands, and Walmart's divestitures of its DTC brands in 2023. Previously, she held positions at Morgan Stanley and Wachovia, working on significant deals in the retail and consumer sectors.

Barclays has appointed Martin Douglass as Head of Financial Sponsors M&A, based in New York. Douglass, with nearly 15 years of investment banking experience, joins from Morgan Stanley where he was a Managing Director in the M&A team. He has executed over $300 billion in transactions throughout his career.

Douglass will report to Dan Grabos, Head of Americas M&A, and work closely with JF Astier, Global Head of Financial Sponsors Group, and Christian Oberle, Head of Americas Financial Sponsors Group. His role involves identifying new M&A opportunities with Financial Sponsor clients and collaborating with various teams within Barclays' Investment Banking division.

This appointment underscores Barclays' focus on strengthening its M&A platform and Financial Sponsors business, anticipating increased market activity in this sector.

Barclays (BCS) has announced the appointment of Stephen Stewart as Head of M&A Execution for Canada. With over 15 years of investment banking experience, Stewart joins from TD Securities and will be based in Toronto. He will report to Ryan Voegeli, Head of Investment Banking for Canada, and Dan Grabos, Head of Americas M&A.

Stewart's extensive experience includes advising on major transactions such as the US$6.3bn take-private of Nuvei and the US$27bn sale of Refinitiv to the London Stock Exchange. This hire is part of Barclays' commitment to strengthening its Canadian platform and complementing its broader Americas and Global M&A businesses.

Barclays has been serving clients in Canada for nearly a century and continues to invest in its platform, recently hiring Jeff Lau as a Director and adding more roles across the team.

Barclays Bank PLC has updated its cash tender offers and consent solicitations for six series of exchange-traded notes (ETNs). Key points include:

1. Results for one expired series (iPath® Bloomberg Grains Subindex Total ReturnSM ETN) were announced, with 195,596 notes tendered for a total purchase price of $5,476,688.

2. The expiration deadline for five other series has been extended to September 25, 2024.

3. Purchase prices for some extended series have been amended, offering a premium to the Closing Indicative Note Value as of July 31, 2024.

4. The issuer may further amend offers based on changes in the applicable Closing Index Level.

5. Noteholders who have already tendered notes for extended series do not need to take further action.

Barclays has appointed Jonathon Traer-Clark as Head of Americas for its Global Transaction Banking (GTB) business. Traer-Clark, an award-winning treasury practitioner with over 30 years of experience, will drive GTB's growth strategy in the Americas, focusing on supporting UK and European businesses with services in the US. The GTB business offers treasury solutions, transaction banking, and lending services to large corporate, financial services, and institutional clients.

Karen Braithwaite, Barclays Global Head of Transaction Banking, emphasized the importance of Traer-Clark's expertise in the bank's multi-year growth journey in the Americas. The appointment aligns with Barclays' strategy to meet the increasing demand for innovative payments and cash management solutions in the US from UK and European clients.

This strategic hire follows the appointment of Arthur (Chip) Northrop as Head of Payments and Cash Management for the Americas in January, further strengthening Barclays' position in the region.