Ex-Yahoo M&A Head Mrva Is Said to Join Barclays as Head of Internet Group
Mrva will report to Laurence Goldberg, the head of global technology, according to a company statement.
Mrva was head of Yahoo’s M&A until last year when the Internet company’s new chief executive officer, Carol Bartz, hired Andrew Siegel from General Electric Co. to run corporate development. Mrva began his career in the M&A unit of Goldman Sachs Group Inc.
“His combination of investment banking and corporate development experience affords him valuable perspective into the unique challenges and opportunities confronting companies in the sector,” Goldberg said in the statement.
Barclays Capital is the investment-banking unit of Barclays PLC, the U.K.’s third-largest bank by assets, which expanded in the U.S. in September 2008 with the acquisition out of bankruptcy of Lehman Brothers Holding Inc.’s North American assets.
Lehman’s former technology team in Menlo Park, which joined Barclays Capital as part of the acquisition, was among Yahoo’s financial advisers in 2008 when the Sunnyvale, California-based company was in talks to be taken over by Microsoft Corp. One year after spurning Microsoft’s $47.5 billion takeover offer, Yahoo agreed to enter into an Internet search partnership with the software maker in July 2009 to better compete against Google Inc.
Barclays’s technology team recently advised Nokia Siemens Network in its $1.2 billion acquisition of Motorola Inc.’s wireless network unit and SAP AG in its $5.8 billion acquisition of Sybase Inc.