Barclays poached a top investment banker from JPMorgan as its new global head of chemicals
- Barclays announced Wednesday it had poached a top investment banker from JPMorgan Chase to run its chemicals banking practice.
- Rob Jeffries is joining Barclays as vice chairman and global head of chemicals banking.
- He was co-head of the chemicals group at JPMorgan, where he’d worked since 2009.
- JPMorgan has promoted two new co-heads of its chemicals group in the wake of the departure.
Barclays has hired a senior banker from JPMorgan Chase to run its chemicals coverage globally.
Rob Jeffries is joining the British lender as vice chairman and global head of chemicals banking, Barclays announced Wednesday. He was previously the cohead of the chemicals group at JPMorgan, where he’d worked since 2009.
Jeffries has nearly 30 years of banking experience and has advised on numerous multibillion-dollar transactions, including Valspar’s $11.4 billion acquisition of Sherwin-Williams in 2017 and Olin’s $5 billion buyout of Dow’s vinyls business in 2015.
“We are delighted to welcome Rob to Barclays. The Chemicals space represents an important opportunity-set for our investment banking business, and the team is achieving outstanding results and momentum in the sector,” John Miller, Barclays global head of banking coverage, said in a statement. “Rob’s appointment will ensure that we continue to drive mind and market share with our clients.”
In the wake of Jeffries’ departure, JPMorgan is promoting Chris Power and Jeff Price as co-heads of its chemicals group, according to people familiar with the matter. They’ll share responsibilities with current group co-head Arkadi Nachimowski.
Jeffries’ hire bolsters Barclays investment banking practice, which ranked 7th globally in 2017, according to Dealogic. The firm ranked third in chemicals banking through the first half of 2018.
This post has been updated with additional information.
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