Barclays Capital Hires 10 Managing Directors

Hires Join Prime Services Business Across Products and Regions

Barclays Capital has announced the hiring of 10 managing directors based in New York and London, to its Prime Services business. The appointments include external hires and internal transfers, and encompass the business’s major product lines:

• Jack Inglis appointed Head of Prime Services Distribution, Europe, and a member of the Prime Services Executive Committee

• Thomas Chippas appointed Head of Quantitative Prime Brokerage

• David Gaynes appointed Head of Prime Services Origination Sales for Multi-Strategy Hedge Funds

• Penry Jackson appointed Head of Synthetics Product Management

• Thomas Spahr appointed Head of Equity Synthetic and International Volatility Distribution, Americas

• Thomas Squeri appointed Head of Prime Services Equity Finance, Americas

• James Bergin appointed Head of Foreign Exchange Prime Services Distribution

• Terrence Burke will join the firm in November as Head of Futures Distribution, Europe

• John Lovisolo appointed Head of Prime Services Origination Sales for Credit

• Trent Walker appointed Head of Prime Services Risk

“These senior hires demonstrate our commitment to expand our Prime Services business and reflect our ability to attract premier industry talent,” said Ajay Nagpal, Head of Prime Services. “Our unique business model brings together the firm’s financing and clearing businesses across equities, fixed income repo, futures, foreign exchange and OTC derivatives. This model gives us a clear competitive advantage and positions us strongly to meet the complex and rapidly evolving needs of our global client base.”

“The increase in headcount is just one example of the significant growth that we have achieved in our business so far this year,” said Munir Dauhajre, Head of Prime Services Distribution. “We have achieved exceptional growth in the number of clients we serve, the balances that we finance, and the breadth of services and capabilities that we offer. The tremendous momentum that we have and the firm’s commitment to invest in its businesses give us a compelling platform from which to continue to grow our franchise.”

The firm has strengthened its Prime Services management by adding to the cross-product expertise on its leadership team.

In June 2010, the firm announced Jack Inglis as Head of Prime Services Distribution, Europe, and a member of the Prime Services Executive Committee. Mr. Inglis is based in London, and reports jointly to Mr. Dauhajre and Omar Selim, Head of European and EEMEA Distribution. Mr. Inglis’s career spans more than 27 years across a range of equity finance businesses and the fixed income markets. Most recently he was CEO at Ferox Capital Management. He also held a variety of senior roles at Morgan Stanley, most recently as Co-Head of the European Prime Brokerage business.

The firm announced the following recent senior appointments in Equity Finance:

Thomas Chippas joins the firm as Head of Quantitative Prime Brokerage, based in New York and reporting to Marty Malloy, Head of Prime Brokerage. Mr. Chippas was previously at Deutsche Bank where he was Head of Equities Sales, North America, for Autobahn, Deutsche Bank’s electronic distribution service. He previously held management positions at Bank of America and Macgregor, the trade order management firm. Mr. Chippas will leverage his 16 years of experience to expand the firm’s high frequency trading solutions for quantitative clients, including the low-latency SubMSM product and co-location options.

David Gaynes joins the firm as Head of Prime Services Origination Sales for Multi-Strategy Hedge Funds, based in New York and reporting to Tom Luglio, Head of Prime Services Distribution, Americas. He previously spent eight years at Deutsche Bank where he was a Managing Director in sales and part of the senior management team for that firm’s Prime Services business. Prior to joining Deutsche Bank, he was at Lehman Brothers where he managed North American client service for the Prime Services business. Mr. Gaynes will draw on more than two decades of Prime Services management experience to grow the firm’s client base and strengthen relationships with existing clients.

Penry Jackson joins the firm as Head of Synthetics Product Management in the Prime Services division, based in New York and reporting to Mr. Malloy. With over 20 years of experience with synthetic products gained in both the UK and US markets, Mr. Jackson will be responsible for driving innovation in the firm’s equities synthetics product suite. He was most recently a Managing Director in the Asset Management Advisory Business at Carne Group in Dubai, having previously worked at Deutsche Bank as Head of Global Prime Finance for the Middle East and North Africa.

Thomas Spahr joins the firm as Head of Equities Synthetic and International Volatility Distribution, Americas, based in New York and reporting to David Porcelli, Head of Equities Distribution, Americas, and Mr. Luglio. Prior to joining Barclays Capital, Mr. Spahr was at Deutsche Bank for six years, most recently as a Managing Director in the International Equity Derivatives business and before that as a Director and Co-Head of Asian Equity Product Distribution. With a career spanning more than 16 years across synthetics, cash and derivatives, Mr. Spahr will work closely with Mr. Jackson and Walter Maloney, Head of Equities Synthetics Trading, to extend the firm’s equities synthetics product offering and drive client opportunities across regions.

Thomas Squeri joins the firm as Head of Prime Services Equity Finance, Americas, based in New York and reporting to Ashley Wilson, Head of Equity Finance and Head of Prime Services, Europe. Mr. Squeri has more than 20 years of experience in equity finance, including the past 19 years at Morgan Stanley, where he served as a Managing Director in their Equity Finance business. He held numerous senior positions during this time at Morgan Stanley, most recently as Head of their Supply Group and Chief Technology Officer of their Securities Lending business. Mr. Squeri will drive the development of the firm’s equity finance business in the Americas.

The firm announced the following appointments in other parts of its Prime Services business:

Jamie Bergin has been appointed Head of Foreign Exchange Prime Brokerage Distribution, based in New York, reporting to Mr. Luglio and coordinating closely with the firm’s Foreign Exchange Distribution team. Most recently he was Co-Head of Foreign Exchange Distribution in the US at Barclays Capital. Mr. Bergin brings over 20 years of foreign exchange experience to the Prime Services business and will focus on leveraging his relationships and extensive knowledge of the foreign exchange markets to expand the firm’s client footprint. Mr. Bergin's vision with respect to the changing landscape in OTC clearing will prove to be a valuable resource to our clients.

Terrence Burke will join the firm in November as Head of Futures Distribution, Europe, based in London and reporting jointly to Mr. Inglis and Tim Stack, Head of Futures. Mr. Burke was previously at Nomura International, where he was that firm’s Global Head of Futures and Options; he was previously European Head of Futures and Options at Lehman Brothers. With over 15 years of experience in the futures and options markets, including roles at JPMorgan Chase, Mr. Burke will bring significant expertise to drive the firm’s European futures distribution efforts, from voice execution to clearing sales.

John Lovisolo has been appointed Head of Prime Services Origination Sales for Credit, based in New York and reporting to Mr. Luglio. Mr. Lovisolo joins the firm’s Prime Services business having previously been Head of the firm’s Credit Distribution business in the Americas. He will leverage his more than 20 years of experience in fixed income to expand client relationships across the credit spectrum.

Trent Walker joins the firm as Head of Prime Services Risk, based in New York and reporting to Mr. Nagpal. Mr. Walker, who holds a PhD in Mathematics from the University of California at Berkeley, brings over 12 years of expertise in cross-product technology, risk management, and global risk aggregation. Before joining Barclays Capital, he was Chief Technology Officer at BlueCrest Capital. He also held management roles at Credit Suisse, most recently as Head of Technology for Fixed Income Derivatives Products. Prior to his career in finance, he was an assistant professor at the University of California at Santa Barbara.

Barclays Capital’s Prime Services business provides clients across the globe with an integrated and cross-asset class offering for financing, clearing and execution. The firm offers unique frameworks for asset protection, margining solutions, industry intelligence and insight, analytics and execution technologies. Barclays Capital has been recognized for its leadership in numerous industry polls and surveys, including Best Prime Broker Technology provider at HFM Week magazine’s 2009 & 2010 European Service Provider Awards, 44 Best in Class Awards in the 2009 Global Custodian Prime Brokerage survey, and 106 Best in Class Awards in the Global Custodian OTC Derivatives Prime Brokerage survey.

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