Barclays Tech Banking Chairman Francis to Join EvercoreMax Abelson
Barclays Plc’s J. Stuart Francis, chairman of technology banking, is leaving to join Evercore Partners Inc. as a senior managing director, joining a line of bankers exiting the British firm.
Francis, 61, starts his new job in August and will be based in Menlo Park, California, Evercore said today in a statement. He worked on Facebook Inc.’s $16 billion initial public offering, and has advised Google Inc. and Qualcomm Inc. on transactions. A Golf Digest ranking of bankers in 2007 put Francis at a tie for number 32.
“I am aware that he is a superb golfer,” Evercore Chief Executive Officer Ralph Schlosstein said in a phone interview. “And that he is almost as good a golfer as he is an investment banker.”
Barclays lost three top bankers last week in the U.S. and Asia before a May 8 strategy announcement that will probably include shrinking the London-based firm’s investment bank. Hugh “Skip” McGee stepped down as CEO of the Americas. Also departing were investment-banking chairman Ros Stephenson and Robert Morrice, the Asia-Pacific chairman and CEO.
Francis, who’s known as Stu, was a vice chairman of Lehman Brothers Holdings Inc. Barclays bought parts of Lehman when the firm filed the biggest bankruptcy in history in 2008.