Kirk Harrison and Phil Kelleher, both managing directors, have been promoted to the newly created roles of co-heads of leveraged product. They will report to John Kelting, head of European leveraged finance.
They will be responsible for all financing classes used in leveraged financing including senior debt, second-lien debt, mezzanine debt, high-yield bonds plus PIK loans and notes.
Within this new structure, Graham Rainbow and Alaric Fountain-Barber will be responsible for private leveraged syndicate, while Boris Okuliar will be responsible for public leveraged syndicate.
Jonathan Hosgood and David Shaw, meanwhile, have been promoted to co-heads of sponsor origination. They will also report to John Kelting. This follows managing director John Leach taking a sabbatical from the bank after 20 years.
Barclays is a powerhouse in European leveraged finance but has suffered some high-profile departures of late. Chris Coles, formerly head of European leveraged finance went on sabbatical in September last year, and was replaced by Kelting. Vijay Rajguru, formerly head of European leveraged distribution, left the bank earlier this year to join a hedge fund.
Barclays topped Thomson Financial’s European sponsor loan league table and European leveraged loan league table last year with 46 deals worth US$35.36bn.