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Barclays Replaces EMEA Equities Head Thorkelsson With Beebe

April 30 (Bloomberg) -- Barclays Plc named Jonathan Beebe head of equities for Europe, the Middle East and Africa at its investment bank to replace Sigurbjorn “Siggi” Thorkelsson, who will retire.

Beebe has been head of equities trading for the region since May 2012, joining from Bank of America Corp., Joe Corcoran, head of equities said in a memorandum today. A spokesman for Barclays in London declined to comment on the changes.

Barclays posted a bigger-than-estimated gain in investment-banking profit this month and said it’s on track to meet its target for cost cuts. Income at the equities operation rose 19 percent to 706 million pounds ($1.1 billion) while investment-banking revenue, which includes mergers advisory, advanced 8 percent to 558 million pounds on rising fees from equity-capital markets.

Thorkelsson joined Barclays in April 2010 from Nomura Holdings Inc. Financial News reported Beebe’s move earlier today.

To contact the reporter on this story: Ambereen Choudhury in London at achoudhury@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net

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