BarCap targets hedgies with prime services hires

LONDON, Sept 28 (BestGrowthStock) – Barclays Plc’s (BARC.L: )
investment bank arm has appointed 10 managing directors in its
prime services business as part of a build-up of the unit
providing services and financing for hedge funds.

The new appointments will be based in London and New York
and include new hires and internal transfers, the bank said in a
statement on Tuesday.

Barclays Capital said recent appointments included Thomas
Chippas as head of quantitative prime brokerage, David Gaynes as
head of prime services origination sales for multi-strategy hedge
funds and Penry Jackson as head of synthetic product management.

Jack Inglis was appointed in June as head of prime services
distribution, Europe.

The bank said it had seen “exceptional growth” in prime
services this year in the number of clients it serves, the
balances it finances, and the breadth of services it offers.

BarCap is attempting to build up its prime services business
alongside an expansion in equities and advisory business, as
part of its expansion following the purchase of the U.S.
operations of collapsed investment bank Lehman Brothers two
years ago.
(Reporting by Steve Slater; Editing by Will Waterman)

BarCap targets hedgies with prime services hires