UPDATE: Barclays Hires BofA Merrill Lynch Asia Power Bankers
June 09 2009 - 6:30AM
Dow Jones News
Barclays Capital, the investment banking arm of Barclays PLC
(BCS), said Tuesday it hired Jim Chapman to head its power and
utilities investment banking operation for Asia ex-Japan, along
with a five-member team, all from Bank of America Merrill
Lynch.
The team is a new one for Barclays, and forms part of Barclays
Capital's moves begun early last year to build up its investment
banking division.
Chapman, who began at Barclays Tuesday, was head of power
banking for the region at Bank of America Merrill Lynch. The other
five bankers are on gardening leave, a person familiar with the
situation said.
Chapman and the five other bankers joined Merrill Lynch nine
months ago from Lehman Brothers, after that bank's collapse and the
subsequent takeover of its Asian and European investment banking
operations by Japan's Nomura Holdings Inc. (8604.TO).
Merrill Lynch became part of Bank of America Corp. (BAC) early
this year.
At Barclays Capital, Chapman will be responsible for leading all
investment banking transactions in the power and utility sectors in
Asia excluding Japan, including mergers and acquisitions, debt and
equity financing and risk solution transactions, the bank said.
-By Nisha Gopalan, Dow Jones Newswires; 852-2832-2343;
nisha.gopalan@dowjones.com