July 14 (Bloomberg) -- Barclays Plc named Jonathan Glionna as its head of U.S. equity strategy research.
Glionna will produce investment ideas and talk about issues facing money managers, according to Erica Chase, a spokeswoman for the London-based bank. He was previously head of global credit bank research at Barclays and replaces Barry Knapp, who left earlier this year to join BlackRock Inc.
Glionna, who has spent almost six years at Barclays, will be among almost two dozen Wall Street strategists who try to predict the direction of the stock market and advise investors on which companies to buy and sell. He used to work for Lehman Brothers Holdings Inc. covering U.S. banks and specialty finance and also did credit research for Wellington Management Co.
The average forecast from strategists at investment firms indicates the S&P 500 will end the year at 1,986, implying a 0.5 percent advance from current levels, according to a survey compiled by Bloomberg. The U.S. equity benchmark added 0.5 percent to 1,977.10 today.
Goldman Sachs Group Inc. raised its S&P 500 forecast to 2,050 from 1,900, citing rising earnings and faster economic growth. Stocks with lower valuations will outperform the market before the Federal Reserve begins tightening interest rates, according to a research report from Goldman dated July 11.
To contact the reporter on this story: Callie Bost in New York at firstname.lastname@example.org
To contact the editors responsible for this story: Lynn Thomasson at email@example.com Jeremy Herron, Emma O’Brien