Barclays Plc (BARC), the U.K.’s second-largest lender by assets, appointed John Miller to the newly created role of head of banking for the Americas and named Paul Parker to oversee mergers and acquisitions globally.
The lender also said that Ros Stephenson will become chairman of banking worldwide, according to a memo yesterday to employees from Tom King and Eric Bommensath, the co-chief executive officers of the corporate and investment bank. Kerrie Cohen, a spokeswoman for the London-based company, confirmed the contents of the memo.
Barclays last year combined investment-banking units that oversaw corporate-clients coverage and M&A advice to win a bigger role in deals. King and Stephenson, both 52-year-old former co-heads of corporate finance, became co-leaders of the new division alongside Parker, 50, who previously ran M&A.
“These changes reinvigorate and further strengthen our approach, while allowing Tom to focus more broadly on his wider responsibilities as co-chief executive,” King and Bommensath wrote in the memo.
Miller was head of the global financial sponsors and global industrial groups at Barclays Capital. He joined the bank in 2008 when it purchased Lehman Brothers Holdings Inc.’s investment-banking business, where he held a similar role.
Stephenson was head of global corporate finance and M&A in the investment-banking division at Barclays. She previously was co-head of corporate finance at Lehman.
Miller, Stephenson and Parker are based in New York and report to King.
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