Barclays has promoted Tim Main to lead investment banking for Europe, Middle East and Africa, replacing Reid Marsh, who is moving to become global chairman of investment banking. The UK bank said the moves are an attempt to accelerate growth in investment banking.
Arif Vohra will take over from Main as global co-head of the financial institutions group for investment banking.
“Expanding our EMEA franchise is one of our clearest opportunities to grow our investment banking business globally," said JF Astier, global co-head of investment banking, describing that push as a "strategic priority".
Barclays has had a good couple of years in investment banking, taking market share from rivals in trading and investment banking, and has been adding staff in continental Europe. It ranked sixth for global investment banking fees in the first nine months of this year, overtaking rival Credit Suisse to be the leading European bank, behind the big five US firms.
Barclays said Main will lead regional strategy for client coverage and investment across the UK, Continental Europe and the Middle East and Africa. He joined its FIG team in New York in 2016 and has co-led it for the past several years. Main previously worked at Evercore Partners and spent 20 years at JP Morgan, running its equity capital markets and FIG business.
Marsh joined Barclays in 2010 in its industrials group and was promoted to head EMEA investment banking five years ago. He joins the global chairman's group, which brings together the most senior and experienced investment bankers, focused on driving client relationships. He was previously at Citigroup, after joining Salomon Smith Barney (later part of Citigroup) in 1995.
Vohra only joined Barclays in September from Bank of America, after 21 years at BofA and Merrill Lynch. Before Merrill, he spent four years as a funding officer for the European Bank for Reconstruction and Development. Vohra started as co-head of FIG in EMEA with Enrique Pinel. He will be global co-head of FIG with Joel Fleck.