Barclays Capital has re-jigged its London-based high-yield franchise. Phil Kelleher will relinquish his position as head of credit hedge fund, convertible bond and high-yield sales, and assume a new position as head of European high-yield and second lien capital markets. He will also be responsible for product co-ordination across leveraged finance and high-yield sales. In his new role, Kelleher will report to Chris Coles, head of leveraged finance, and Geert Vinken, head of syndicate.
In addition, Mahtab Hanjani will become the new head of European high-yield sales, reporting to Graeme Anderson, head of European credit sales. Chris Turner, will remain in his role as managing director, European high-yield capital markets and syndicate, reporting to Kelleher.
The UK bank has also made two additions to the high-yield origination team. Both Boris Okuliar and Tangwena Nelson join from the high-yield capital markets team at Bank of America. Okuliar joins as an associate director, and both he and Nelson will report to Peder Oien, head of corporate leveraged finance.
Barclays has had a presence in high-yield for some time, but is a perennial under-achiever in this market, something of a surprise given the bank’s strong position in the loan market. Barclays does not feature in the top 10 in the Thomson league table for all non-dollar denominated high-yield bonds for 2005, year to-date.