- Main to be chairman of global financial institutions group
- He joins from Evercore after two-decade JPMorgan career
Barclays Plc hired Tim Main to be chairman of its global financial institutions group, as Chief Executive Officer Jes Staley adds another fellow JPMorgan Chase & Co. veteran to the bank’s senior ranks.
Main was hired from Evercore Partners Inc., where he’d worked since 2011, most recently as senior managing director responsible for coverage of financial-services clients, according to a statement from London-based Barclays. Previously, Main spent more than 20 years at JPMorgan, including stints running the firm’s equity capital markets and FIG divisions.
Staley, brought in last year to speed up restructuring of the British firm, has committed to maintaining the investment bank, describing calls to exit the business because of low profitability in recent years as “shortsighted.” The former head of JPMorgan’s investment bank, Staley has recruited a number of executives and senior managers from his alma mater, including C.S. “Venkat” Venkatakrishnan as chief risk officer and Paul Compton as chief operating officer.
Princeton-educated Main will be based in New York and report to John Miller, head of Americas banking, and will work alongside Lee Einbinder and Richard Bonaventura, co-heads of FIG banking in the region, according to the memo. Barclays ranks third globally this year on advising on announced mergers and acquisitions involving financial companies, according to data compiled by Bloomberg.
“Tim has an outstanding track record and vast knowledge, experience and relationships,” Miller said in the memo. “His expertise fits perfectly with our origination-led banking model.”